Canada’s Teranet Housing Index Posts Smallest Gain in 10 Months - stalled in Montreal

April 28 (Bloomberg) -- Canadian home prices posted their smallest monthly gain in 10 months in February, the Teranet- National Bank Composite House Price Index showed.

Prices rose 0.2 percent from the previous month, according to a report released today by National Bank Financial. On an annual basis, prices rose 9.9 percent, outpacing gains of 7.5 percent in January and 5.2 percent in December, the bank said.

The index has tracked home-price changes in six Canadian cities -- Halifax, Montreal, Ottawa, Toronto, Calgary and Vancouver -- since February 2000. Prices rose the most in Vancouver and Toronto, stalled in Montreal and fell in Ottawa and Calgary.

Annual increases reflect the house-price deflation that was taking place last year and that peaked in April, the bank said in its report.

Prices in Vancouver now exceed pre-recession levels, the bank said in its report, leaving only Calgary prices lower than they were before the economic contraction began.

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Marlene Ofter

Marlene Ofter

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