November 21, 2012 / 2:08 PM / in 5 years

Canadian house prices fall 0.2 percent in October from September: Teranet

TORONTO (Reuters) - Canadian home prices dipped in October from September and year-over-year price gains slowed for the 11th straight month in yet another sign Canada’s hot housing market has cooled, the Teranet-National Bank Composite House Price Index showed on Wednesday.

The index, which measures price changes for repeat sales of single-family homes, showed overall prices fell 0.2 percent in October from a month earlier, only the third October drop in 13 years of data. The index was up 3.4 percent from a year earlier, the 11th consecutive month of deceleration in 12-month inflation.

Reporting By Andrea Hopkins; Editing by Jeffrey Hodgson

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