CANADAIN HOUSING INDEX SHOWED CONTINUED WEAKNESS IN JANUARY

The Canadian Press.  Published Wednesday, February 20, 2013, 1:24 PM EST.

TORONTO - The Teranet-National Bank indes of Canadian housing prices continues to show the effects of a cooling trend that has hovered over the real estate market for over a year.

The  indes was at 153 last month, up just 2.7 per cent from January 2012 - the lowest 12-month growth rate since November 2009. 

It was also the 14th consecutive moth of shrinking year-over-year price increases and the fifth consecutive month-to-month decline, with th index down 0.3 per cent from December.

Vancouver, which is Canada's most expensive residential real estate market, was the ony city on the index to show a year-over-year decline, dropping 2.5 per cent compared with January 2012.  The composite covers 11 major urban centres.

Seven of 11 local markets trached by the Teranet land registry system showed month-to-month declines: Calgary, Edmonto, Hamilton, Montreal, Toronto, Vancouver and Winnipeg.

The four local markets that saw increases were: Halifax, Ottawa, Quebec and Victoria.

It was the third month-to-month decrease in a row for Toronto an the fourth consecutive for Montreal.

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