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Canada's House Price Index Down 5.5% From Peak

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John Pasalis in Toronto Real Estate News

Canadian home prices fell 2.4% in January 2009 led by declines in Calgary (-8.2%) and Vancouver (-4.2%).  The Teranet-National Bank House Price Index showed a modest decline in house prices in Toronto (-2.4%) and price appreciation in Montreal (4.1%), Ottawa (2.1%) and Halifax (1.2%).

National house prices are down 5.5% from their peak in August 2008 with Toronto showing a 6.1% drop from its peak.

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John Pasalis is the Broker of Record of Realosophy Realty Inc in Toronto. Email John

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John Pasalis
John Pasalis
John Pasalis is President of Realosophy Realty, a Toronto real estate brokerage which uses data analysis to advise residential real estate buyers, sellers and investors. A specialist in real estate data analysis, John's research focuses on unlocking micro trends in the Greater Toronto Area real estate market. His research has been shared with the IMF and cited by the Bank of Canada and CMHC. A frequent commentator on the Toronto housing market and real estate consumer and industry issues, John has contributed to the Globe and Mail, CBC, BNN Bloomberg, TVO's The Agenda, Toronto Star and other media, national and international government and industry organizations. John holds a B.Sc. in Economics from the University of Toronto and is a candidate in the Doctorate of Business Administration Program at the University of Toronto and Henley Business School (UK).
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