OTTAWA (Reuters) – Canada’s average resale home price fell 1.8% from a year ago in June and was down 6.4% on the month, as rising borrowing costs continued to send a chill through the country’s housing market, data from the Canadian Real Estate Association showed on Friday.
The national average selling price dipped to C$665,850 ($511,092) in June from C$711,000 in May. Prices are down 18.5% from February’s peak as sales have plunged. CREA’s home price index slid 1.9% on the month, but was still up 14.9% annually.
(Reporting by Julie Gordon in Ottawa)
