THE CANADIAN PRESS
TORONTO — Scotiabank says housing prices rose in many countries around the world during the second quarter, including Canada and the United States.
The bank says inflation-adjusted prices strengthened year-over-year in a majority of the 23 countries that it monitors.
In Canada, the increase was about 2.5 per cent — putting this country at about the mid-point of the Scotiabank list.
Canada’s growth lagged the United States, which is recovering from a much bigger downturn that began in 2007.
Scotiabank said U.S. home prices increased by about eight per cent in the second quarter, after adjusting for inflation.