Canadian home prices inch higher in October-Teranet

Wed Nov 13, 2013 9:00am EST
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TORONTO Nov 13 (Reuters) - Canadian home prices edged higher in October from the month before but the gain was lower than average, suggesting the market is cooler than usual, 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 rose 0.1 percent last month from September. The average October monthly gain over 15 years of data has been 0.2 percent, Teranet said.

The index was up 3.1 percent on an annual basis, an acceleration from September's 2.7 percent price appreciation, due to a decline in prices in October 2012.