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- Canada’s new housing prices advance 0.6 percent in June
Canada’s new housing prices advance 0.6 percent in June
Statistics
Canada reported on Wednesday the New Housing Price Index (NHPI) went up 0.6
percent m-o-m in June, following a 1.4 percent m-o-m gain in the previous
month. This was the smallest increase in six
months.
According
to the report, new home prices rose in 20 out of the 27 census metropolitan
areas (CMAs) surveyed in June, with Calgary (+3.5 percent m-o-m) recording the
largest monthly advance in new home prices, as employment gains drove up the
demand for housing by allowing more people to enter the market. Meanwhile, Vancouver
(-0.3 percent m-o-m) was the only CMA that registered a drop in new home prices
in June.
In y-o-y terms, NHPI surged 11.9 percent in June,
following an 11.3 percent jump in the previous month.
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