Canadian new house prices rose in June at a slower pace compared to the two previous months, led by gains in Vancouver and Ottawa.
Canada's new housing price index increased 0.2% in June on a month-over-month basis, Statistics Canada said Thursday. Market expectations were for a 0.5% gain, according to economists at Royal Bank of Canada.
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June's advance marks a cooling in new-house price gains, after increases of 0.8% and 0.7%, respectively, in April and May.
On a 12-month basis, Canadian new house prices increased 3.9% in June.
The data covers prices for newly built single-detached and semi-detached residences, and row houses. They don't incorporate prices for new condominiums.
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(END) Dow Jones Newswires
August 10, 2017 09:15 ET (13:15 GMT)