Toronto, Calgary lead in April home price growth

OTTAWA — Toronto and Calgary led the country in rising home prices last month, according to the Canadian Real Estate Association.

OTTAWA — Toronto and Calgary led the country in rising home prices last month, according to the Canadian Real Estate Association.

The MLS Home Price Index stood at 154.7 in April, up 5.2 percentage points nationally from a year ago and up 1.18 points from March..

Toronto had the biggest year-to-year jump while Calgary led the country on a month-to-month basis.

“Canadian home price gains are generally expected to moderate, but there are a few hot spots where prices are being fuelled by some strong housing market fundamentals,” association president Wayne Moen said in a news release.

Toronto has a tight housing supply, the monthly price index found.

“Toronto has less than two months of supply compared to six months nationally, so it ranks among the tightest of Canadian housing markets,” Moen said.

The MLS Home Price Index is compiled monthly by the Canadian Real Estate Association.

It’s based on prices for one- and two-storey single family homes, townhouses and apartments in several key markets across Canada.

The overall index stood at 154.7 at the end of April. The index indicates that overall Canadian home prices tracked by CREA are up nearly 55 per cent since January 2005, when the index was at 100.

The Toronto component of the index was at 149.7 in April, up 1.42 points from March and up 7.85 points from the same month last year.

The Calgary component was at 175.8, up 2.03 percentage points from March and up 4.02 points from last year.

The Vancouver component of the index was at 163.0, up 0.74 points from March and 3.69 points from April 2011 — a period when the city was experiencing unusually strong demand for multimillion-dollar properties.

Just Posted

Rebels drop home opener to Oil Kings

The Edmonton Oil Kings were simply better than the Red Deer Rebels… Continue reading

RDC Kings topple Medicine Hat College Rattlers

Kings Matheus Alves scores twice in the win

Grassroots movement to clean up Red Deer is gaining momentum

Homeless people need more attention than shopping carts, says former councillor Cindy Jefferies

Improving life for people with Alzheimer’s and their families is a priority for Raitt

The federal Conservatives deputy leader is dealing with the disease in her own home

PHOTO: International Peace Day

Visitors broke bread, made crafts and trading cards at a gathering marking… Continue reading

RDC Kings topple Medicine Hat College Rattlers

Kings Matheus Alves scores twice in the win

Saskatchewan RCMP charge man in abduction that sparked Amber Alert last Sunday

NORTH BATTLEFORD, Sask. — Saskatchewan RCMP have arrested a man following an… Continue reading

One dead following police-involved shooting in Burlington, Ont.

BURLINGTON, Ont. — Ontario’s police watchdog says a 32-year-old man was shot… Continue reading

Several injured as Tornado tears through Ottawa and Gatineau, Que.

OTTAWA — A tornado ripped through the Ottawa area Friday afternoon, damaging… Continue reading

B.C. wildfires burned large areas affected by mountain pine beetles: Experts

VANCOUVER — Clearing or burning beetle ravaged forests may be costly but… Continue reading

Dustin Byfuglien scores in overtime, Jets beat Flames 4-3 in pre-season

WINNIPEG — Bryan Little tied the game late in the third and… Continue reading

Mistrial denied in Calgary murder trial over jury’s visit to hotel Denny’s

CALGARY — A Calgary judge has denied a request for a mistrial… Continue reading

Former Canadian astronaut says space shuttle is a vehicle of hope

OTTAWA — Sending messages of hope from space is a big part… Continue reading

Canada requests trade panel on uncoated groundwood paper ruling by U.S.

OTTAWA — Canada has requested a NAFTA trade panel review a U.S.… Continue reading

Most Read