Home prices south of the border reached a median U$212,000 in February, a record high for the month.

The rise of 1.4 per cent from January and 6 per cent from February 2016 reported in a survey of 53 metros by RE/MAX came as sales were essentially flat while active inventory fell to a record low for the month.

"Inventory, not the rise in interest rates, remains the principal constraint on home sales," said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate


More market watch: