Canada home resale price index ends rising streak

* Index drops 1.1 percent in September

* First time since Feb. 2009 that all 6 markets fall

TORONTO, Nov 24 (BestGrowthStock) – Canadian home resale prices
slid 1.1 percent in September from the month before, the
Teranet-National Bank Composite House Price Index showed on
Wednesday, ending a string of 16 consecutive monthly price
increases.

It was the first time since February 2009 that all six
metropolitan markets surveyed for the index reported declines.
The Teranet index measures price changes for repeat sales of
single-family homes.

Prices were up 7.9 percent from a year earlier.

The steepest declines were in Halifax and Calgary, down 2.4
percent and 2.2 percent, respectively. They were followed by a
1.6 percent fall in Toronto, while Ottawa fell 0.5 percent.

Montreal and Vancouver posted the smallest drops, each down
0.3 percent.

The index tracks home prices over time for repeat sales, so
properties with at least two sales are required in the
calculations. The report did not provide actual prices.
(Reporting by Ka Yan Ng; editing by Peter Galloway)

Canada home resale price index ends rising streak