Canada Home Resale Prices Fall 5th Straight Month, Teranet Says

Canadian home resale prices fell for a fifth straight month in January, the longest string of declines since the country’s 2009 recession, according to the Teranet-National Bank Composite House Price Index.

National prices fell 0.3 percent during the month, according to a report today by National Bank Financial. Prices were up 2.7 percent from a year earlier, the slowest pace since November 2009.

The index tracks prices in 11 major cities.

To contact the reporter on this story: Theophilos Argitis in Ottawa at targitis@bloomberg.net

To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net

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