Eric Beauchesne, CanWest News Service Published: Saturday, April 29, 2006 OTTAWA - Home sales and prices hit all-time highs in the first quarter of this year, according to a report Friday which will add to puzzlement, and possibly more inflation worries, at the Bank of Canada. There were 125,142 existing homes sold from January through March, up 2.4 per cent from the fourth quarter of last year, and 0.2 per cent above the previous record high set in the third quarter of last year, the Canadian Real Estate Association said. Earlier in the week, Bank of Canada governor David Dodge said ``we're a little bit surprised'' at the strength of the housing market considering the steady climb in interest rates and prices since last summer. And real estate association chief economist Gregory Klump agreed it was a surprise that sales hit new record highs. ``Rising household incomes and upbeat consumer confidence are keeping resale housing activity on a tear, even with rising home prices
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