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- Canadian new house price index little changed
Canadian new house price index little changed
Despite growth in some markets, Canadians saw little overall change in new home prices in August.
Prices for new homes were unchanged in 15 of the 27 census metropolitan areas (CMAs) surveyed, including what have been Canada's two hottest housing markets-Toronto and Vancouver. For Toronto, this was the third consecutive month of flatness. In Vancouver, this was the first month of no price change, following five consecutive monthly increases.
Nationally, new home prices edged up 0.1% in August, primarily reflecting increases in the CMAs of London (+1.0%), Kelowna (+0.9%) and Ottawa-Gatineau, Ontario part (+0.4%). Builders in all three CMAs tied the rise to improved market conditions. In Ottawa-Gatineau, new phases of development also contributed to higher prices.
Prices were down in St. John's (-0.5%), Sherbrooke (-0.2%) and Halifax (-0.1%).
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