Published on 19 Jan 2022 on Reuters via Yahoo Finance
Canadian home prices climb 0.8% in December - Teranet
OTTAWA (Reuters) - Canadian home price gains accelerated in December, rising 0.8% from November, as buyers scrambled to act before anticipated rate hikes and resale supply remained constrained, data showed on Wednesday.
Prices rose in eight of the 11 major Canadian markets that make up the Teranet-National Bank Composite House Price Index, which tracks repeat sales of single-family homes.
"Some people who secured advantageous interest rates have probably brought forward transactions," said Daren King, an economist with National Bank of Canada, in a note.