Canadian home prices rise a modest 0.8% in May, typically one of the strongest months for sales: Teranet
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The index, which measures price changes for repeat sales of single-family homes, showed national home prices rose 0.8% last month, a modest reading compared to historical May readings for what is traditionally one of the strongest sales months of the year.
Prices were up 4.6% from a year earlier, a slowdown from April’s 4.9% price gain.
Meanwhile, Statistics Canada said Thursday its new housing price index rose 0.2% in April, following identical increases in both February and March.
The agency says the combined metropolitan region of Toronto and Oshawa, Ont., was the top contributor to the increase and had the largest monthly price advance in April, as prices rose 0.7%.
That is the largest monthly price increase for the region since November 2011.
Prices slipped in six metropolitan areas in April. Prices were down 0.5% in Regina and fell 0.3% in Vancouver.
© Thomson Reuters 2014