Canadian home sales slow, prices drop

OTTAWA–October's New Housing Price Index increased 1.5 per cent from a year earlier, slowing from September's 2.1 per cent advance and the smallest annual increase since October 1999.

Statistics Canada says prices fell 0.4 per cent between September and October.

The largest year-over-year price increases were in Regina (up 22.8 per cent) and St. John's, Nfld. (up 22.3).

Edmonton recorded a 12-month drop of 7.7 per cent, the largest annual decline since May 1985.

Calgary recorded a year-over-year decrease of 1.6 per cent, its largest annual decline since November 1991.

Prices fell 1.7 per cent in Edmonton and 0.6 per cent in Calgary from September to October.