Canadian existing home prices made their smallest gain in 16 months during August, according to the Teranet-National Bank Composite House Price Index.
In a report released Oct. 27, Teranet-National Bank found that prices rose just 0.2% in August from July.
The index measures the prices of homes that have sold at least two times to track real estate activity in six major metropolitan areas, but provides no actual prices.
The index also found that for the second straight month prices did not rise in all six markets. The Calgary index fell 0.5% during August, while Vancouver slipped for a second straight month, down 0.4%.
Those declines, however, were offset by gains of 1.4%in Ottawa, 0.9%in Halifax, 0.5% in Montreal and 0.4% in Toronto, which was the smallest increase the city has had in five months.
Prices did rise 10.4% from last year, but the gain was the smallest 12-month increase in six months.
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