Canada home prices dip 2.5% in March from February

·1 min read
FILE PHOTO: For sale signs on homes in Toronto

OTTAWA (Reuters) - Canada's average home price fell 2.5% in March from February and sales dropped 5.4%, as the red hot housing market showed signs of cooling off, according to data from the Canadian Real Estate Association on Tuesday.

The national average selling price dipped to C$796,000 ($629,846) from C$816,720 in February, though it was up 11.2% on the year. CREA's home price index was up 1% on the month and 27.1% annually, edging back from last month's record gains.

($1 = 1.2638 Canadian dollars)

(Reporting by Julie Gordon in Ottawa)

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