Canadian home price trends continue to diverge in April

May 29, 2012 · Filed Under CREA Reports 

According to statistics released May 25, 2012 by The Canadian Real Estate Association (CREA), the MLS® Home Price Index, the leading measure of Canadian home prices, increased in April 2012.

 Highlights:

  • The Aggregate Composite MLS® Home Price Index in April 2012 was up 5.2% year-over-year.
  • Toronto again posted the largest year-over-year increase (7.9%), with more modest gains in Calgary (4.0%), Vancouver (3.7%), the Fraser Valley (2.7%), and Montreal (2.3%).
  • Year-over-year price gains accelerated in April in Toronto and Calgary but slowed in Vancouver and the Fraser Valley and were little changed in Montreal.
  • Single family home prices again posted the biggest gains (6.4%), with apartment unit and townhome sales making more modest headway (3.6% and 2.7% respectively).

The MLS® Home Price Index (MLS® HPI) rose 5.2 per cent year-over-year in April 2012. The increase was similar to those for the previous two months and among the smallest since last August. However, the moderation in overall price gains in recent months masks diverging trends among the major Canadian markets.

 

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