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- Canada’s new house prices flat in December
Canada’s new house prices flat in December
Statistics Canada reported the New Housing Price Index (NHPI) was unchanged m-o-m in December for the fifth consecutive month.
Economists had forecast the NHPI to be flat m-o-m in December.
According to the report, new house prices were lower or flat in 17 of the 27 census metropolitan areas (CMAs). Regina (-0.4 percent m-o-m) posted the largest decrease due to lower negotiated selling prices and promotions to stimulate sales. At the same time, the largest price increases were recorded in Ottawa (+0.4 percent m-o-m) and Sherbrooke (+0.4 percent m-o-m), with market conditions listed as the primary reason for a gain in the former and higher construction costs for the latter.
In y-o-y terms, NHPI was unchanged in December, as in the previous month.
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