(Adds details from report)
OTTAWA Dec 8 Canadian new home prices rose more
than expected in October as home values in the hot market of
Toronto continued to climb, data from Statistics Canada showed
The 0.4 percent increase in national home prices topped
economists' forecasts for a gain of 0.2 percent. Overall, prices
were up in 13 of the survey's 21 markets.
Canada's housing market has been robust in the years since
the global financial crisis, bolstered in part by low interest
rates. But a recent acceleration in prices in the major cities
of Toronto and Vancouver has raised concerns some markets are
Prices in the Toronto region continued to rise in October,
racking up a 1.3 percent gain as builders cited market
conditions, higher construction costs and a shortage of land.
Although Vancouver's housing market has showed signs of
cooling in recent months, prices there edged up 0.2 percent.
Prices slipped by 0.2 percent in Calgary, where the market has
slowed following the drop in oil prices.
(Reporting by Leah Schnurr; Editing by Bill Trott)