Canadian home price index flat in October

Wed Dec 21, 2011 10:13am EST
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TORONTO (Reuters) - Canadian home resale prices slipped in October from September, the latest sign the country's once hot housing market is cooling further.

The Teranet-National Bank Composite House Price Index, which measures price changes for repeat sales of single-family homes in 11 major cities, showed overall prices were down 0.04 percent in October from September.

Overall prices were up 6.98 percent from a year earlier.

The index tracks home prices over time for repeat sales, so properties with at least two sales are required in the calculations. The report did not provide actual prices.

(Reporting by Jeffrey Hodgson; editing by Rob Wilson)