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- Canada’s new housing prices up 0.1 percent in June
Canada’s new housing prices up 0.1 percent in June
Statistics
Canada reported on Tuesday the New Housing Price Index (NHPI) edged up 0.1
percent m-o-m in June, the same pace as in the previous month.
Economists had
forecast the NHPI to increase 0.1 percent m-o-m in June.
According to
the report, new home prices showed little or no change in 17 out of the 27
census metropolitan areas (CMAs) surveyed in June. Meanwhile, St. Catharines-Niagara
(+1.0 percent m-o-m) reported the largest increase in new home prices in June in
response to good market conditions in the region, followed by Kitchener-Cambridge-Waterloo
(+0.7 percent m-o-m) and Guelph (+0.5 percent m-o-m).
On the contrary,
new house prices dropped the most in Regina (-0.5 percent m-o-m) and Edmonton
(-0.2 percent m-o-m) as buyers negotiated lower selling prices.
In y-o-y terms,
NHPI rose 1.3 percent in June, following a 1.1 percent gain in the previous
month.
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