UPDATE 1-Canadian house prices fall 0.4 pct in November from Oct -Teranet

Wed Dec 19, 2012 11:22am EST
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* Prices up 3.3 pct from year ago, deceleration trend continues

* Prices down in November from October in 10 of 11 markets

* Calgary records the only monthly price gain

By Andrea Hopkins

TORONTO, Dec 19 (Reuters) - Canadian home prices dipped in November from October while year-over-year price gains slowed for the 12th straight month as Canada's housing market continued to cool, 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 0.4 percent in November from a month earlier, the third consecutive monthly decline.

"For the first time since February 2009, when the recession was in full swing, prices were down from the month before in 10 of the 11 metropolitan markets surveyed," with Calgary the only city to escape a drop, Teranet noted in its report.

The index was up 3.3 percent from a year earlier, the 12th consecutive month of deceleration in 12-month inflation.

The report is the latest in a string of data suggesting that an extended Canadian upswing in house sales and prices has come to an end, but activity varies widely by region.   Continued...