Slower monthly price rises in three out of six markets

Canadian home prices in October were up 0.6% from a year earlier, according to the Teranet-National Bank National Composite House Price Index™. It was the first 12-month rise in almost a year. The reason for this turnaround after 10 consecutive months of 12-month deflation is that October was the sixth straight month in which the composite index was up from the month before. The monthly gain of 1.3% was the same as in September. Prices have now risen 1% or more for five months in a row. In October, however, the monthly rise varied significantly among the six metropolitan markets surveyed.