Housing prices edge up in March

OTTAWA ― The New Housing Price Index rose 0.2% in March, following an identical increase in February. The index has increased for 12 consecutive months, largely driven by higher new housing prices in Ontario and British Columbia. Of the metropolitan areas covered by the index, the top contributors to the national increase in March were Vancouver and the combined region of Toronto and Oshawa, both with increases of 0.4%. Builders in both regions cited market conditions as the main reason for the advance. The index increased 2.0% over the 12-month period ending in March, the largest year-over-year increase at the national level since April 2013.