Real Estate

Photo: The Canadian Press. All rights reserved.

A real estate agent puts up a "sold" sign in front of a house in Toronto, April 20, 2010. THE CANADIAN PRESS/Darren Calabrese

Statistics Canada says its new housing price index rose 0.3 per cent in May, following a 0.2 per cent increase in April.

Toronto, Oshawa and Calgary were the top contributors to the May increase, while prices slipped in Victoria and Charlottetown.

The largest April-to-May increases came in the Ontario cities of Sudbury and Thunder Bay, where they rose 1.6 per cent.

On a year-over-year basis, the index was up 2.4 per cent in May, after a 2.5 per cent increase in April.

Toronto and Oshawa again were the driving forces behind this increase, rising 5.5 per cent.

Of the 21 metropolitan regions surveyed, three posted 12-month price declines in May, with Victoria recording the largest decrease at 3.2 per cent..