Canada home prices fall in November for second straight month: Teranet

A real estate for sale sign is seen in a newly built subdivision in East Gwillimbury, Ontario, Canada, January 30, 2018. Picture taken January 30, 2018. REUTERS/Mark Blinch

TORONTO (Reuters) - SNAP:

Canadian home prices fell in November for the second consecutive month as declines were seen across much of the country, data showed on Wednesday.

The Teranet-National Bank Composite House Price Index, which measures changes for repeat sales of single-family homes, showed prices fell 0.3 percent in November from October.

Prices were down in eight of the 11 metropolitan markets surveyed, Teranet said. Vancouver, Calgary and Edmonton led the declines, with 0.6 percent drops. Prices in Toronto, the country’s biggest city, were down 0.1 percent.

On a year-over-year basis, the index climbed 3.1 percent, which was a bigger annual rise than the previous three months, said Teranet.

Reporting by Fergal Smith; editing by Jonathan Oatis