|Canadian home prices stall in September|
Dec 05, 2011 JOHN MORRISSY montrealgazette.com
It signals end of decade's outsized gains, which were unsustainable, economist says
The seemingly endless rise in Canadian housing prices finally took a breather in September.
After nine straight months of gains, resale home prices measured by the Teranet-National Bank Composite House Price Index were unchanged from the previous month.
The same was true even in the red-hot Vancouver market, where prices have surged for 11 consecutive months.
The slowdown in the index, which measures price changes for repeat sales of singlefamily homes in 11 major markets, was welcomed by Marc Pinsonneault, senior economist at National Bank Financial, who said price gains of almost one per cent per month over the previous three months were unsustainable.
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