Canadian New Housing Price Index Unchanged in August

On Monday, Statistics Canada (StatCan) released its latest New Housing Price Index (NHPI). The national index was unchanged month-over-month in August. Prices were unchanged in 13 of the 27 census metropolitan areas (CMAs) surveyed, while they increased in 8 and were down in the remaining 6.

The largest month-over-month decrease in August was recorded in Calgary, down 0.4%, followed by St. Catharine’s–Niagara, down 0.3%. Prices posted the largest month-over-month increases in Regina, up 0.3%, and Oshawa, up 0.2%. Builders reporting improving market conditions as the reason for the increases, StatCan said.

Year-over-year, the index was unchanged, following a 0.1% increase in July. The NHPI increased in 10 CMAs, was unchanged in 3, and declined in 14.

The largest year-over-year increases in August were registered in Calgary, up 4.1%; Trois-Rivières, up 3.1%; and Edmonton, up 2.1%. The largest year-over-year declines were reported in Kitchener–Cambridge–Waterloo and Ottawa, each declining 2.8%, followed by Sherbrooke, which posted a 1.7% decline.