Toronto housing market still sizzling

OTTAWA — A red hot Toronto real estate market drove the Canadian Real Estate Association’s home price index up 5.2% in May compared with a year ago.The association said gains in Toronto amounted to 7.93%, outpacing all the other regions measured by the index.Calgary was second with a gain in May of 4.84% compared with a year ago. [np-related]The index is based on prices for one- and two-storey single family homes, townhouses and apartments in several key markets across Canada.The price of two-storey single family homes was up 6.7%, while one-storey single family homes were up 5.8%.Townhouses and apartments saw more modest gains of 3.3% and 2.95 respectively.