Canada Home Prices Slide Again as Snowstorm Chills Buying

The Canadian housing market started the year in deep freeze as both prices and sales continued their downward trend.

The benchmark home price fell for the 14th straight month in January, declining 0.9% to C$665,200 ($487,790) — the lowest level in almost five years — according to seasonally adjusted data from the Canadian Real Estate Association. Sales of existing homes plunged by 5.8% month over month as densely populated regions were hit with a major winter storm.