Teranet-National Bank House Prices (Jul.)

The Teranet-National Bank national composite house price index showed that house price inflation accelerated somewhat to 4.9% in July, from 4.4% in June. The sales-to-listings ratio suggests that house price inflation will fall to 4.0% in the second half of this year. Nevertheless, with housing now looking even more overvalued, we anticipate that prices will eventually decline.

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