The Canada Mortgage and Housing Corporation is continuing its alert – that the country is facing a high degree of vulnerability to market instability.

C-M-H-C says it analyzed the overheating of markets – the acceleration of home prices – overvaluations and overbuilding – in issuing the warning for the seventh straight quarter.

The Crown corporation says Toronto, Hamilton, Vancouver and Victoria are at the greatest risk – because of overvaluation and increasing home prices.

Winnipeg, Ottawa, Quebec City, Moncton, Halifax and St. John’s got a low vulnerability ranking along with Montreal – but the agency warns it may have to revise that assessment – given the rapid growth of house prices in some neighbourhoods.