January MLS home price index up

Home prices rebounded in January following declines in each of the two previous months, according to a Canadian Real Estate Association report released Monday.

The MLS home price index was up 0.27 per cent on a month-over-month basis in January, after slipping in November and December.

The increase was driven by stronger results in three of the five key markets that make up the index - Montreal, Toronto and Vancouver. The gains were offset by softer sales in Calgary and B.C.'s Fraser Valley region.

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