Canadian house prices rose 1.1 pct in May from April - Teranet

Wed Jun 12, 2013 8:59am EDT
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TORONTO, June 12 (Reuters) - Canadian home prices jumped in May from April as a spring rebound in sales continued in most cities, offsetting a couple of weak markets, the Teranet-National Bank Composite House Price Index showed on Wednesday.

The index, which measures price changes for repeat sales of single-family homes, showed overall prices rose 1.1 percent in May from a month earlier. It was the ninth time in 15 years that May prices were up 1.0 percent or more from April.

The index was up 2.0 percent from a year earlier, which matched the April rate and marked the smallest 12-month gain since November 2009.