House prices rise in Montreal, Toronto and Vancouver

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Price increases in three major Canadian housing markets pushed the Canadian Real Estate Association’s home price index higher in January following declines in each of the two previous months.

The index rose 0.27 per cent from December, driven by stronger results in Montreal, Toronto and Vancouver.

The gains were offset by softer sales in Calgary and B.C.’s Fraser Valley region, the other two markets that make up the index.

But nonetheless, the index remains up from year-ago levels in all five of the markets tracked — led by Toronto, which was up 7.6 per cent.

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House Prices January 2012

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