Canadian home prices dip in Nov- Teranet

Thu Dec 12, 2013 9:00am EST
 
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TORONTO Dec 12 (Reuters) - Canadian home prices edged down in November, reversing the gains seen the month before and suggesting a softer than usual market, the Teranet-National Bank Composite House Price Index showed on Thursday.

The index, which measures price changes for repeat sales of single-family homes, showed national prices slipped 0.1 percent last month from October. The average November monthly gain over 15 years of data has been 0.1 percent, Teranet said.

"This year's retreat does not signal a buoying market," the report said.

Prices were up 3.4 percent from a year ago, an acceleration from October's 3.1 percent price gain, due to a greater drop in prices in November 2012.