Canadian home prices rise 0.5 pct in April-Teranet

TORONTO Wed May 14, 2014 9:00am EDT

TORONTO May 14 (Reuters) - Canadian home prices rose in April and the pace of 12-month home price appreciation accelerated slightly, the Teranet-National Bank Composite House Price Index showed on Wednesday.

The index, which measures price changes for repeat sales of single-family homes, showed national home prices were up 0.5 percent last month, a modest reading compared to the usual spring surge and following a flat March.

Prices were up 4.9 percent from a year earlier, an acceleration from March's 4.6 percent price gain. (Reporting by Andrea Hopkins Editing by W Simon)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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