Single-family home prices drop in almost half of cities

The latest Teranet-National Bank Composite House Price Index revealed a slight drop in Canada's house prices last December. Repeat sales of single-family homes also slipped by 0.2 per cent from the month earlier.

Single-family detached homes hit record high prices in Vancouver

Home buyers have raised prices for single-family detached houses to record highs in Greater Vancouver and Fraser Valley.

With the home price index hitting $984,300 last month for detached properties sold in Greater Vancouver, this is up 6.6 per cent from August 2013. In the Fraser Valley, which includes the Vancouver suburb of Surrey, the detached price index climbed 3.4 per cent to $569,800 over the past year.