Five of six metro areas post gains; Montreal falls

(Source: Reuters)

Canadian home resale prices rose for a fifth straight month in September, chalking up gains in five of six major markets, the latest sign of the housing sector’s strength in an otherwise struggling economy.

The Teranet-National Bank Composite House Price Index released on Wednesday showed that prices were up 1.3 percent nationally in September from August.

It was the smallest rise in four months for the index, which measures price changes for repeat sales of single-family homes without giving actual dollar figures. But it highlighted how record low interest rates continue to boost housing demand.

Read the full article “Canadian home resale prices up for 5th month” in Reuters (November 25, 2009).

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