New information from Statistics Canada this morning showed that home prices in Canada rose by 0.1% for the fourth month in a row in December, driven by gains in the greater Toronto region.
The increase was in line with economists' forecasts. The Toronto and Oshawa region was the top contributor, with prices rising 0.2%, though the gains were partially offset by builders offering bonus packages to spur sales.
Prices edged up 0.1% in Calgary as builders saw higher material and labor costs. It was the smallest gain since December 2013 for the city that is heavily tied to the energy sector.
Still, Calgary saw the biggest increase over the course of the year with prices up 6.5%. For Canada overall, prices were up 1.7% compared to December 2013.
