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Canadian home resale prices rose in August by the smallest amount since the Teranet-National Bank Composite House Price Index began climbing 16 months ago, data showed on Wednesday.
The index, which measures price changes for repeat sales of single-family homes, showed overall prices rose 0.2 percent in August from July. But prices fell in
It was the second straight month that prices did not rise across all six markets that the index tracks.
That was offset by a gain of 0.5 percent in
Prices were up 10.4 percent from a year earlier, the smallest 12-month gain in six months.
The data is in line with other indicators that showed the housing sector has been cooling steadily in recent months. The sector helped pull
TD Bank economist Shahrzad Mobasher Fard said he expected the prospects for any acceleration in price growth to be limited, due to the slowing economy and a less consumer-driven environment.
The Teranet index tracks repeat sales to measure home prices over time, so its calculations are based on properties with at least two sales. The report gave no actual prices.