Canadian home prices post record monthly decline in September: Housing index

Home prices fell for a fifth consecutive month in September, breaking the previous record set in August, according to the Teranet–National Bank National Composite House Price Index.

In a report released Thursday, it found that home prices fell 3.1 per cent in September, compared to a month ago.

This marked the largest monthly decline since the index was first started in 1999, and shattered the previous record decline of 2.4 per cent in August.

The report found that the largest price declines were in Victoria (down 5.9 per cent), followed by Vancouver (3.5 per cent) and Hamilton (2.1 per cent).