Canadian home prices slid to their weakest level in more than three years in August, extending a correction that has now erased 4.2% of value from the national market’s peak less than a year ago. The Teranet-National Bank Composite House Price Index, which tracks repeat-sale transactions across Canada’s 11 largest census metropolitan areas (CMAs), fell 0.2% from July to August. That’s the eighth monthly decline in nine months and a reversal of the slight 0.1% gain recorded the previous month.
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