The latest housing data doesn't show any cracks in the foundation of the Canadian housing bubble market

Statistics Canada released the March new housing price index and Teranet released a national house price index for April at the same time.

The Teranet data showed a 1.2% m/m rise in house prices and an 8.1% rise year-over-year. That's a pickup from the 7.0% gain in March.

New house prices are rising at a slower pace but gained 0.2% in March compared to 0.1% expected. Compared to last March, house prices were up 2.0% compared to 1.9% expected.

From Teranet:

Though prices were up on the month in 10 of the 11 metropolitan markets surveyed, the gain of the composite index was due mostly to the three markets with the largest weights: Vancouver (+2.2%), Toronto (+1.4%) and Montreal (+1.1%). Prices were also up in Halifax (2.1%), Hamilton (1.0%), Winnipeg (0.8%), Victoria (0.5%), Calgary, Ottawa-Gatineau and Quebec City (0.2%). In Edmonton prices fell slightly (−0.1%).