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- Canada’s new housing prices rise less than expected in June
Canada’s new housing prices rise less than expected in June
Statistics Canada reported the New Housing Price Index (NHPI) rose 0.2 percent m-o-m in June, following a 0.7 percent m-o-m advance in May. Economists forecast a 0.4 percent m-o-m increase.
According to the report, prices rose in 8 of the 27 metropolitan areas surveyed in June, with the largest increases recorded in Vancouver (+1.5 percent m-o-m) and Ottawa-Gatineau, Ontario part (+0.9 percent m-o-m), due to improving market conditions.
In y-o-y terms, NHPI surged 3.9 percent in June after a 3.8 percent y-o-y gain in May.
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