January 25, 2012 / 2:23 PM / in 6 years

Home price index slips in November

TORONTO (Reuters) - Home resale prices slipped in November from October, the latest sign the country’s once hot housing market is cooling further.

<p>A real estate sign is seen on front of a house in Toronto in this June 19, 2009 file photo. REUTERS/Chris Roussakis</p>

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 0.2 percent in November from a month earlier.

Prices were up 7.1 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 does not provide actual prices.

Reporting by Jeffrey Hodgson; Editing by Janet Guttsman

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