Canadian New-Home Prices Unchanged in October

Statistics Canada (StatCan) on Tuesday (11-21-23) reported that its New-Housing Price Index was unchanged in October. Of the 27 census metropolitan areas (CMAs), 22 were unchanged and the remaining 5 were higher. Nationally, new-home prices decreased 0.8% year-over-year in October.

According to StatCan, new-home prices decreased the most in the CMAs of Kelowna, Hamilton, and Sherbrooke—each reporting a 0.4% month-over-month decline in October, with builders reporting weak market conditions as the reason for the declines. On the other hand, the largest month-over-month increases in new-home prices were in the CMAs of Québec, up 0.3%, and the CMAs of Edmonton and Kitchener–Cambridge–Waterloo, each up 0.2%.