* Month-on-month price rise of 0.3 percent in March
* Prices in four out of six metropolitan markets rise
* Group says home market not headed for U.S.-style crash (Adds Canadian Real Estate Association report)
TORONTO, May 26 (Reuters) – Canadian home resale prices climbed in March for an 11th straight month, but the gain was one of the smallest since prices began rising last year, according to a report on Wednesday.
The Teranet-National Bank Composite House Price Index, which measures price changes for repeat sales of single-family homes, showed overall prices rose 0.3 percent in March from February.
“The broad slowing of monthly gains is consistent with a general loosening of resale-market conditions across the country. For some months now, homes have been coming on the market faster than they have been selling,” the report said.
March’s gain was only a tick ahead of February’s 0.2 percent increase, which was the smallest monthly gain since the end of a recession-induced price slump…
Posted by: Reuters
Date: Wed May 26, 2010