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Canadian home prices climb in August, but pace of gains slows- Teranet

Reuters
·1 min read
FILE PHOTO: A realtor's sign stands outside a house for sale in Toronto

OTTAWA (Reuters) - Canadian home prices rose in August from July, though the pace of price growth slowed for the third consecutive month, data showed on Thursday.

The Teranet-National Bank Composite House Price Index, which tracks repeat sales of single-family homes in 11 major Canadian markets, rose 1.0% in August from July. That follows a 2.0% gain in July and a 2.7% gain in June.

On an annual basis, the index was up 18.4%, it's 13th consecutive acceleration and the strongest 12-month gain on record. That was driven by a 32.4% gain in Halifax, Nova Scotia and a 30.2% gain in Hamilton, Ontario.

On a monthly basis, all 11 major markets were up for a sixth straight month, including a 2.1% gain for Ottawa-Gatineau and 1.7% gain for Hamilton.

(Reporting by Julie Gordon in Ottawa; Editing by David Gregorio)