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Canada new home prices unchanged in April, biggest markets show weakness

Credit: REUTERS/CARLO ALLEGRI

New home prices in Canada were flat in April for a third month in a row amid weakness in Toronto and Vancouver, the two biggest markets, Statistics Canada said on Thursday.

Adds details of release, background

OTTAWA, June 13 (Reuters) - New home prices in Canada were flat in April for a third month in a row amid weakness in Toronto and Vancouver, the two biggest markets, Statistics Canada said on Thursday.

Analysts in a Reuters poll had predicted no change in home prices from March. Builders in 19 of the 27 metropolitan areas reported flat or lower prices.

In Toronto - which accounts for 29.06% of the entire market - prices dipped by 0.1% while Vancouver prices edged down 0.2%.

The new housing price index excludes apartments and condominiums, which the government says are a particular cause for concern and which account for one-third of new housing.

Graphic - Canada new housing priceshttp://link.reuters.com/nep62t

Graphic - Canada economic snapshothttp://tmsnrt.rs/2e8hNWV

(Reporting by David Ljunggren; Editing by Bernadette Baum)

((david.ljunggren@thomsonreuters.com; +1 613 235 6745; fax +1 613 235 5890; Reuters Messaging: david.ljunggren.reuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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