(Source: Reuters)

New home prices in Canada rose in September at their fastest rate in 20 months, highlighting the country’s strong housing market which contrasts with sluggish growth elsewhere in the economy.

Statistics Canada said on Thursday new home prices rose by a sharper-than-expected 0.5 percent in September. The federal agency cited improving markets and consumer confidence as reasons for the jump in the new housing price index, which exceeded market expectations for a 0.2 percent gain.

Read the full article, “Canada new home prices jump most since Jan 2008” at Reuters, (Nov 12, 2009).

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