TORONTO (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.
Reporting by Alastair Sharp; Editing by Janet Guttsman