New Housing Price Index (NHPI): December 2010

Canada New Housing

The New Housing Price Index (NHPI) rose 0.1% in December, following a 0.3% advance in November.

Year-over-year, the NHPI was up 2.1% in December following a 2.3% increase in November. The year-over-year NHPI has been registering positive changes since January 2010.

• Winnipeg: prices rose as a result of the introduction of new building code regulations in Manitoba.
• Halifax: the increase was attributed mainly to higher material and labour costs.
• Windsor: prices declined as builders offered incentive packages in order to stimulate sales.
• Montréal &  Québec: builders reported lower negotiated selling prices in December.

Calgary New Housing

In Calgary, the index was up 0.1% from the previous month and up 1.1% year-over-year.

Reminder: Starting with this report, the base year of the New Housing Price Index was changed from 1997 to 2007.

The new housing price indexes for January 2011 will be released on March 9.