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Toronto leads gains in home price index

A report by the Canadian Real Estate Association finds that home prices crept higher in March.

The association says the increase came as gains in and around the Vancouver area slowed, offset by an acceleration in Calgary, Toronto and Montreal.

The MLS home price index was up 1.3 per cent in March on an month-over-month basis.

Compared with a year ago, prices were up about 5.1 per cent.

The index is based on prices for one- and two-storey single family homes, townhouses and apartments in several key markets across the country.

Prices were up in all of the markets tracked, led by Toronto which saw a 7.3 per cent gain compared with a year ago.