OTTAWA (Reuters) – Canadian home prices rose 4.9% in January from December to reach a fresh high, as sales inched up 1% on the month, data from the Canadian Real Estate Association showed on Tuesday.
The national average selling price hit a new record at C$748,450 ($588,589) in January, up 21% from a year earlier, the industry group said. CREA’s home price index posted a record month-over-month gain of 2.9% and 28% year-over-year, also a record.
($1 = 1.2716 Canadian dollars)
(Reporting by Julie Gordon in Ottawa)
