UPDATE 1-Canada new housing prices rebound in August

* New home prices edge up 0.1 percent in August

* Prices rose in 7 cities, were flat in 10
(Adds details)

OTTAWA, Oct 13 (BestGrowthStock) – New home prices in Canada
resumed their upward crawl in August, gaining 0.1 percent after
declining by the same amount in July, reflecting a slowdown in
the housing market after robust growth for much of the past
year.

Statistics Canada said on Wednesday prices rose in seven of
the 21 cities in the index, were unchanged in 10 and edged down
in four.

Analysts in a Reuters poll had forecast, on average, a 0.1
percent decline in the August index.

The top contributors to the increase were three cities in
the province of Ontario — Toronto, Oshawa and Hamilton — as
well as Montreal, Quebec.

Compared with August 2009, prices climbed 2.9 percent.

The housing only component of the new housing price index
climbed 0.1 percent on a monthly basis and 4.5 percent on the
year. The land only component was flat in August and slipped
0.2 percent on the year.
(Reporting by Louise Egan and Howaida Sorour, Editing by Chizu
Nomiyama)

UPDATE 1-Canada new housing prices rebound in August