Teranet House Price Index and Vancouver

Vancouver: The Teranet House Price Index rose 0.2 per cent in January for all of Canada, following declines in December and January. , according to CBC. The two biggest urban markets Toronto and Vancouver, which have a shortage of single family homes available for resale, remained strong in January. On an annual basis, home prices were up 7.4 per cent in Toronto and up 5.1 per cent in Vancouver. Canadian home prices have started to trend downwards in several major Canadian cities, including Montreal, Winnipeg, Calgary and Hamilton, Ont. But it makes little sense to talk about an overall Canadian housing market, because the pattern is so uneven across the country. Just a few strong markets continue to see rises in resales of single-family homes. Overvalued housing prices and how to read them: Don Pittis Stephen Poloz says up to 30% overvalued housing big risk to economy (www.immigrantscanada.com). As reported in the news.