Canada's home resale prices rose in June in the biggest monthly gain in ten months.
"June marks the largest monthly increase in 10 months. But we do not believe that acceleration in the Teranet-National Bank index will be sustained," said Marc Pinsonneault, National Bank Financial senior economist.
According to numbers from the Teranet-National Bank Composite House Price Index, overall prices rose 1.5 per cent from May, the largest monthly increase since last August. Prices were up 13.6 per cent from last year.
Teranet noted it's too early to call the price increases of recent months a trend.
It was the third straight month prices rose across all six surveyed metropolitan areas.