Canadian home prices rise in October
Canadian home prices rose in October as continued strength in Ontario, the most populous province, offset the first decline in Vancouver in almost two years, the Teranet-National Bank Composite House Price Index showed.
The monthly gain was not very broad-based, with prices rising in only six of 11 markets surveyed. They rose 1.2 percent in Toronto, Canada’s largest market, and 1.4 percent in nearby Hamilton, with smaller increases in Quebec City, Calgary, Winnipeg and Victoria.
Canada’s long housing boom is gradually cooling region-by-region, with only Ontario still boiling, but concerns about a possible U.S.-style collapse continue amid signs of overbuilding and unsustainable increases in household debt.