Canadian home prices in February were down 4.1% from a year earlier, according to the Teranet–National Bank National Composite House Price Index™. The disinflation that began in February 2008 is now a year old. The retreat means that on the whole, Canadian housing has become a buyer’s market after five years of seller’s-market conditions from 2002 to 2007. February was also the sixth consecutive month in which the composite index was down from the month before – the longest run of monthly declines over the nine years covered by the index.
UPDATE TERANET: Canadian home prices down 4.1% in February
(Source: House Price Index)