TORONTO (Reuters) - Canadian home resale prices rose in May from April, hitting record highs for the second month in a row, the Teranet-National Bank Composite House Price Index showed on Wednesday.
Ten of the 11 metropolitan markets tracked by the index were higher and one was flat. It was the first time in nearly a year that none of the 11 markets declined.
The index, which measures price changes for repeat sales of single-family homes, showed overall prices climbed 1.1 percent in May from a month earlier. The index was up 5.8 percent from a year earlier. It does not show actual prices.
Reporting by Jennifer Kwan; Editing by Peter Galloway