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Home Prices in ‘Drum-Tight’ Toronto Surge by Most on Record

  • Report comes hours before officials meet to discuss next steps
  • Real-estate values in Canada’s biggest city jumped 29% on year
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Home Prices in Drum-Tight Toronto Surge by Most on Record

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Toronto’s home prices capped a record quarter of gains in March amid concern the market is in a bubble.

Prices in the nation’s biggest city increased 6.2 percent last month from February, according to a benchmark price index released Tuesday by the Canadian Real Estate Association. The gain is the biggest in records dating from 2000. Actual price gains averaged almost 5 percent in the quarter, the largest three-month increase in records dating from 1988.