Home Prices Fall in October Amid Seasonal Pressures

Canadians shopping for homes may have found discounts in their search, according to new figures released Tuesday.

The Teranet-National Bank Composite House Price Index, which measures changes for repeat sales of single-family homes, fell 0.1% last month from September. It was the first decline since April.

The survey showed six of the 11 metropolitan areas in the index showed declines, led by a 1% drop for Edmonton, the capital of the province of Alberta. Toronto was down 0.2%, the first decline for Canada’s most populous city since March.

Meanwhile, Vancouver saw prices increasing 0.2%, the first such increase 15 months, rising 0.2%. Sales activity in that city’s once red-hot housing market has picked up since August.