Second consecutive monthly price decline in October

Canadian home prices in October were down 0.4% from the previous month, according to the Teranet-National Bank National Composite House Price Index™. This retreat followed a September monthly decline of 1.1% that ended a string of 16 consecutive increases in the composite index. Though prices were down in September in all six of the metropolitan markets surveyed, two cities showed a monthly rise in October - Halifax, 0.7%, and Vancouver, 0.1%. Vancouver's marginal gain followed three consecutive monthly declines. Montreal prices were flat from the month before. Prices were down 0.9% in Toronto, 0.3% in Ottawa and 1.0% in Calgary. For Calgary it was a third straight monthly decline.
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