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- Canada’s new housing prices unchanged in April
Canada’s new housing prices unchanged in April
Statistics
Canada reported on Thursday the New Housing Price Index (NHPI) was unchanged
m-o-m in April, following a 0.3 percent m-o-m advance in the previous month.
Economists had
forecast the NHPI to increase 0.1 percent m-o-m in April.
According to
the report, new home prices rose in 13 of the 27 census metropolitan areas
(CMAs) surveyed in April, led by gains Guelph (+0.6 percent m-o-m),
Kitchener–Cambridge–Waterloo (+0.5 percent m-o-m) and Ottawa (+0.4 percent
m-o-m), which were supported by favourable market conditions. In contrast, new
home prices dropped the most in Edmonton (-0.3 percent m-o-m), Calgary and
Regina (both down 0.2 percent
m-o-m) in April, with the decreases primarily attributable to weak market
conditions.
In y-o-y terms,
NHPI rose 0.9 in April, the same pace as in the previous month.
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