Home prices recover in March, says Teranet index

There was something of a turnaround in house prices in March following decline in February. The Teranet/National Bank House Price Index showed a nationwide increase of 0.29 per cent in the month and 4.73 per cent from a year ago. In February, eight of the 11 markets surveyed saw prices fall, but in March, eight of the 11 increased. As you might expect, Toronto and Vancouver heavily influenced the index with annual increases of 7.62 per cent and 5.3 per cent, respectively. While Calgary prices are two per cent lower than their peak in the third quarter of 2014, they still managed a 0.19 per cent increase in the month to March. Edmonton saw a 0.38 per cent rise. There was decline in Halifax, although the annual rise was the highest in the index at 8.4 per cent. Ottawa-Gatineau was the worst performer with prices down 0.33 per cent in the month. Read the full story.

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