September 12, 2018 / 2:58 PM / 10 months ago

Canadian home prices rise in August due to seasonal patterns: Teranet

Realtors' signs are hung outside a newly sold property in a Vancouver neighbourhood, September 9, 2014. REUTERS/Julie Gordon

OTTAWA (Reuters) - Canadian home prices rose in August from July but seasonal patterns masked some underlying weakness, data showed on Wednesday.

The Teranet-National Bank Composite House Price Index, which measures changes for repeat sales of single-family homes, showed prices increased 0.2 percent on a monthly basis.

After seasonal adjustment, the index was virtually flat following declines in June and July, Teranet said.

The 1.4 percent year-over-year gain for the index was the smallest since November 2009, Teranet said.

Reporting by Fergal Smith; Editing by Bernadette Baum

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