Home prices up 2.7% in January

Long line of homes for sale on Springborough Way S.W. in Calgary. (QMI Agency/MIKE DREW)

Long line of homes for sale on Springborough Way S.W. in Calgary. (QMI Agency/MIKE DREW)

MYKE THOMAS, QMI Agency

, Last Updated: 10:36 AM ET

National home prices increased 2.7% in January from a year earlier, the smallest 12-month gain since January 2009, according to the Teranet-National Bank National Composite House Price Index.

January was the 14th consecutive month of deceleration in 12-month inflation, meaning the rate of house price increases has been lower than the preceeding month for the last 14 months.

Six of the 11 Canadian markets measured by Teranet had year-over-year increases higher than the national average.


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