Jul
14
Home Prices in Canada’s Biggest City Gain Most Since 1989
ByMay was the biggest month for Toronto new home prices in 27 years.
Prices in Canada’s largest metropolitan area rose 1.9 percent in May, and were up 6.4 percent from a year earlier. Nationally, home prices rose 0.7 percent in May, the largest monthly increase since 2007, Statistics Canada reported Thursday.
The data adds to evidence that Toronto’s housing market may be overvalued. Policy makers including Bank of Canada Governor Stephen Poloz have warned price gains there and in Vancouver are unsustainable…
Home Prices in Canada’s Biggest City Gain Most Since 1989
