October 15, 2013 / 1:07 PM / 4 years ago

Canadian home prices flat in September: Teranet

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The sun begins to rise behind the southwest guard tower on the Kingston Penitentiary in Kingston, Ontario October 11, 2013.Fred Thornhill

TORONTO (Reuters) - Canadian home prices were unchanged in September after hitting a record high the month before, suggesting the housing market is cooling, the Teranet-National Bank Composite House Price Index showed on Tuesday.

The index, which measures price changes for repeat sales of single-family homes, showed overall prices were flat last month from August. House prices normally average a gain of 0.2 percent in September, according to Teranet.

Still, the index was up 2.7 percent on an annual basis due to a decline in prices in September 2012.

Reporting by Leah Schnurr; Editing by Jeffrey Hodgson

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