Teranet home price index posts biggest drop in its history

The Teranet–National Bank National Composite House Price Index fell 2.4 per cent from July to August, on an unadjusted basis. It was the largest monthly decline recorded since the index started in 1999. On an adjusted basis, the index fell 2.1 per cent, month over month, also a record and the fourth decline in a row.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.

Meanwhile, the Aggregate Composite MLS Home Price Index edged down 1.6 per cent on a month-over-month basis in August, not a small decline historically, but smaller than those in June and July. The Teranet-National Bank index is still higher than a year ago, up 8.9 per cent in August — “the fourth consecutive month of lower growth than the previous month.”Article content

Still the index is up 8.9% from a year ago. Why is the positive perspective always buried at the end of the article?

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