Anna Asi, M.A.

Canadian home prices rise in January-CREA

Feb 6 (Reuters) - Canadian housing prices rose in January on a monthly basis for the first time in three months, led by gains in Montreal, Toronto and Vancouver, according to a report from the Canadian Real Estate Association.

The newly launch MLS Home Price Index, which monitors housing prices in five major urban markets, rose 0.27 percent in January from a month earlier. It was up 5.2 percent from the previous year's level.

"While home prices remain up compared to one year ago, price growth from one month to the next has been slowing, causing year-over-year gains to shrink, and prices are generally expected to continue to stabilize this year," Gary Morse, the industry group's president, said in a statement.

Cat: Canada Real Estate