The index fell 0.2 per cent from January and increased only 2.7 per cent on a year-to-year basis from February 2012.
That matched January's year-to-year increase, the smallest since November 2009.
Teranet compiles the index based on a selection of homes sold in major markets across Canada.
The national composite index stood at 152.72 in February .
Many economists and industry groups have noted that Canadian housing prices have softened since the latest mortgage reforms brought in by Finance Minister Jim Flaherty last July.