Posted AT 10:15 AM EST on 11/09/08
Housing market continues to cool
The rise in new home prices continues to ease as Canada's housing market cools, particularly in the west.
Statistics Canada said Thursday prices for new homes rose 2.7 per cent in July on an annual basis, a slowdown from the 3.5 per cent pace a month earlier.
On a monthly basis, prices rose 0.1 per cent.
“The growth rate of the index has been on a downward trend since Sept.
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