House Price Change Chart Canada Major Cities May 2011 Data

It's going to be a few weeks before we see June's matching price change data for Canada, so here is May.

Canada Vancouver Toronto Calgary Halifax Ottawa Montreal House Price change chart (smoothed over 4 months)

Click for a full-size view. Compared to the post before this, you can really see that Calgary is the Northern Hemisphere Perth, right down to the steeper decline/correction. The smoothed 6-city composite for May came in at 4.1% gain year on year, just a hair above the inflation rate for that month of 3.7%. Anything below the inflation rate is in decline in terms of a portfolio where real estate is the inflation hedge.

Now is probably also a good time to remind the good people of Calgary that a 50% gain is wiped out by a 33% decline. The downside is brutal.