Home Prices rise again in January, but gains tepid

Canadian home prices rose 0.3 per cent in January from december, led by gains in Hamilton and Montreal, though the pace of growth slowed and prices fell in four of 11 markets, data showed on Thursday. The Teranet-national bank Composite House Price Index, which tracks data collected from public land registries to measure changes for repeat sales of single-family homes, showed price gains in seven of the 11 major metropolitan markets. Prices rose 2.0 per cent in Hamilton, 1.0 per cent in Montreal and 0.6 per cent in Victoria, but the index was down 0.1 per cent in Toronto, 0.2 per cent in Calgary, and 0.4 per cent in both edmonton and Winnipeg. On an annual basis, the index was up 9.6 per cent in January, the sixth consecutive acceleration and the strongest 12-month gain since October 2017.