January 23, 2013 / 1:47 PM / in 5 years

Canadian house prices fall 0.4 pct in December from Nov-Teranet

TORONTO, Jan 23 (Reuters) - Canadian home prices fell in December from November and year-over-year price gains were the lowest in three years 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 December from a month earlier, the fourth straight monthly decline. The index was up 3.1 percent from a year earlier, the 13th consecutive month of deceleration in 12-month inflation and the lowest rate in three years.

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