For the second consecutive month, there has been a fall in the Teranet-National Bank Composite House Price Index.
The index was down 0.5% in November compared to the previous month, driven by a decline in Toronto (-1.4%), Hamilton (-1.6%), Ottawa-Gatineau (-0.8%) and Edmonton (-0.7%).
The cumulative drop in the index for Toronto in the past four months is 7.1% although raw data reveals a 0.2% rebound in November.
There was little change in the indexes for Vancouver (after 6 monthly increases) and Victoria but gains for Montreal (1.0%), Quebec City (0.9%), Halifax (0.8%), (Calgary 0.7%) and Winnipeg (0.5%).
Year-over-year the composite HPI was up 9.2% across all metros included, the smallest 12-month rise since June 2016.
Vancouver continues to lead the HPI indexes with a 277.85 level compared to 236.73 for Toronto, 225.28 for Hamilton, and 205.23 for Winnipeg. The composite 11 index was 217.10.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: