According to the Teranet National Bank House Price Index, Vancouver home prices past their previous peak that took place during the first quarter of 2010. Although Vancouver home sales are still considerably slow, the Teranet index score for the Metro Vancouver homes for sale reach 152.16.
Up by 14 per cent from the same month in 2009, and above the city's previous high of 150.65, what was reached in June 2008, this is a good sign that the worst is over for Vancouver home sales.
The Teranet examines price changes of all homes rather than calculating average or benchmark prices from housing sales in a given month. Much like the stock index, the index is calculated by combining the average price change for homes sold to reach an index score.