Canadian home prices rose 0.6 pct in August from July -Teranet

Thu Sep 12, 2013 9:00am EDT
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TORONTO, Sept 12 (Reuters) - Canadian home prices rose in August from July's all-time high, but the annual price increase remained subdued, 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 overall prices rose 0.6 percent in August from a month earlier, below the seasonal norm.

The index was up just 2.3 percent from a year earlier, a slight acceleration from July. The annualized readings from the last five months are far below readings on an equivalent housing index in the United States, Teranet said.