According to the Teranet-National Bank Composite House Price Index, Canadian home prices accelerated at a faster than usual pace for February, rising 0.4%. The February increase was led by gains for the metropolitan areas of Montreal and Vancouver. Compared with the same month a year ago, the index climbed 2.9%, led by the capital region of Ottawa-Gatineau. The year-over-year gain accelerated for the seventh straight month and was the strongest since December 2018.
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