Calgary new housing prices were down slightly from the previous month but were up from February 2010 according to the New Housing Price Index report released by Statistics Canada today.
The Calgary index was down 0.4% from January, but registered a 0.4% increase from the earlier year.
Statistics Canada states that in Calgary, builders offered promotional prices and bonus upgrade packages in order to stimulate sales.
Canada-wide, the New Housing Price Index (NHPI) rose 0.4% in February, following a 0.2% advance in January. Year over year, the NHPI was up 2.1% in February.
Source: Statistics Canada
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Great post Mike. I have to agree with Statistics Canada regarding the builder incentives. We’ve been shopping around for a new home in Calgary for roughly 8 months now and we’ve seen more and more builders add incentives in the last few months compared to last year. I’m sure it depends on the area- we have run into situations where it cost less to buy a brand new home with more upgrades (i.e. granite counter tops, hardwood floors, etc.) than a 4 or 5 year old home in the same area.
Cheers!
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Mike Fotiou says: Which parts of the city are you looking in?
Investor Flip of the Day
This Hasyboro home sold yesterday for $480,000. It was bought on January 18th for $385,000.