UPDATE 1-Canada new home prices edge higher in October

* New home prices rise 0.1 percent in October, as forecast

* Prices rise in 8 cities, decline in 4, flat in 9
(Adds details)

OTTAWA, Dec 9 (BestGrowthStock) – New home prices in Canada edged
higher by 0.1 percent in October from September, for the third
consecutive gain, according to Statistics Canada data released
on Thursday.

The top contributors to the rise in the new housing price
index were Toronto and Oshawa in the central province of
Ontario and Vancouver, British Columbia. Prices rose in eight
of the 21 cities in the index, were unchanged in nine and edged
down in four.

The index has been on a steady rise since July 2009 with
only one monthly decline since then.

Analysts in a Reuters poll had forecast, on average, a 0.1
percent increase in the October index.

Compared with October 2009, prices climbed 2.5 percent,
easing slightly from a 2.7 percent year-over-year gain in
September.

The housing only component of the new housing price index
rose 0.1 percent in the month, while the land only component
was flat.
(Reporting by Louise Egan and Howaida Sorour; Editing by
Theodore d’Afflisio)

UPDATE 1-Canada new home prices edge higher in October