Canadian home prices rose in February as prices continued to climb in the hot Toronto market, data showed.
Canadian home prices rose in February as prices continued to climb in the hot Toronto market, data showed on Tuesday in a report that was unlikely to alleviate concerns from some quarters that the city is facing a real estate bubble, Reuters reported. The Teranet-National Bank Composite House Price Index, which measures changes for repeat sales of single-family homes, showed prices rose 1% from January. It was the largest February increase on record for the index going back 18 years as prices in Toronto jumped 1.9%. In nearby Hamilton, where home values have been boosted as buyers are forced out of Toronto, prices were up 1.4%.
Source: Financial Tribune