Canadian home prices slide...

Canadian house prices dropped in November for the first time in nearly a year, according to the monthly Teranet-National Bank house price index released Wednesday. The 0.2% drop followed two months of flat prices, and was the first decline in the index since a "brief correction during the three months ending November 2010," said National Bank senior economist Marc Pinsonneault. The national composite index, which tracks registered prices of homes sold at least twice, shows prices fell in eight of the 11 metropolitan markets tracked — one more than in October. November housing prices (% change m/m ~ % change y/y): Calgary: -1.6  ~ 0.5 Edmonton: 0.1 ~ 1.0 Halifax: 0.5 ~ 2.8 Hamilton: -0.3 ~ 4.4 Montreal: 0.4 ~ 7.2 Ottawa: -0.2 ~ 4.2 Quebec: -0.2 ~ 6.0 Toronto: -0.2 10.8 Vancouver: -0.2 9.1 Victoria: -0.9 -0.3 Winnipeg: -0.1 7.5 National Composite: -0.2 7.1

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