UPDATE 1-Canada resale home prices hit new high in March

April 14, 2015 2:20 PM

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TORONTO, April 14 (Reuters) - Canadian home resale prices rose to a record high in March, paced by gains in the two biggest markets, the Teranet-National Bank Composite House Price Index showed on Tuesday, but a correction appears underway in other regions.

The index, which measures price changes for repeat sales of single-family homes, showed national home prices rose 0.3 percent last month from February. Prices were up 4.7 percent from a year earlier. The index does not provide actual prices.

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