In particular, the national index icreased in August 2009 2% following increases of 1.6% and 1.5% in July and June, respectively. On a year-over-year basis the index was down 3.4%, a significant deceleration from the peak year-over-year rate of decline of 6.8% that was registered in May 2009.

Home prices increased in all six major metropolitan housing markets covered by the index. The Toronto housing market registered the largest price increases in August 2009 as the index posted a monthly gain of 2.7%, while Calgary house prices posted the second highest monthly increase of 2%.

It is worth noting that house prices in Montreal, Ottawa and Halifax posted gains also on a year-over-year basis as the index increased by 3.6%, 2.8% and 0.9%, respectively. On the contrary, house prices in Calgary, Vancouver and Toronto posted year-over-year declines of -8.3%, -7.7% and -3.0%, respectively.

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