House price data from Teranet/National Bank
- Prior was +0.4% y/y
- Prices up 0.4% m/m vs +0.7% prior
The y/y data doesn't tell the whole story. If you look at the past two months alone, prices are up 1.1%; that's partly a seasonal pattern but the housing market showing signs of picking up after a soft landing in 2017-2018.
"The recent run of months that showed an underlying downtrend after correction for seasonal pressure has come to an end," Teranet said in the release.
The drag on the data continues to be Vancouver, where prices were down 0.8% in the 13th month without a rise.
