- Analytics
- News and Tools
- Market News
- Canada’s new housing prices increase more than expected in August
Canada’s new housing prices increase more than expected in August
Statistics
Canada reported on Monday the New Housing Price Index (NHPI) rose 0.5 percent
m-o-m in August, following a 0.4 percent m-o-m advance in the previous month.
This was the largest monthly gain since
May 2017.
Economists had
forecast the NHPI to increase 0.3 percent m-o-m in August.
According to
the report, new home prices rose in 18 out of the 27 census metropolitan areas
(CMAs) surveyed in August, with Oshawa (+1.8 percent m-o-m), Québec (+1.7 percent
m-o-m) and Halifax (+1.6 percent m-o-m) recording the largest gains, supported
by low inventory of homes available for sale, coupled with increased demand. On
the contrary, new house prices dropped only in Calgary (-0.1 percent m-o-m), due
to less favourable market conditions.
In y-o-y terms,
NHPI rose 2.1 percent in August, following a 1.7 percent gain in the previous
month. This was the largest y-o-y advance since March 2018.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
