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- Mar 11, 2008
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Canadian home resale prices decline with U.S.
Wednesday, 29 December 2010
As U.S. home prices slipped in October so did Canadian home resale prices, falling 0.4 per cent from September, according to Teranet-National Bank composite house price index.
This was the second consecutive drop in the index. Calgary and Toronto posted the worst declines at one and 0.9 per cent respectively. Ottawa also fell by 0.3 per cent while prices remained flat in Montreal. Halifax and Vancouver experienced slight gains, up 0.7 and 0.1 per cent respectively.
Though resale prices are down, sales of existing homes in Canada rose for a fourth straight month, according to the Canadian Real Estate Association. Next year may be lacklustre, reported Scotia Economics in a year-end review, but 2011 will actually be stable compared to the buying frenzy levels of 2009.
Wednesday, 29 December 2010
As U.S. home prices slipped in October so did Canadian home resale prices, falling 0.4 per cent from September, according to Teranet-National Bank composite house price index.
This was the second consecutive drop in the index. Calgary and Toronto posted the worst declines at one and 0.9 per cent respectively. Ottawa also fell by 0.3 per cent while prices remained flat in Montreal. Halifax and Vancouver experienced slight gains, up 0.7 and 0.1 per cent respectively.
Though resale prices are down, sales of existing homes in Canada rose for a fourth straight month, according to the Canadian Real Estate Association. Next year may be lacklustre, reported Scotia Economics in a year-end review, but 2011 will actually be stable compared to the buying frenzy levels of 2009.