The most significant monthly price decline was recorded in Calgary according to the New Housing Price Index (NHPI) released today by Statistics Canada.
Between May and June Calgary’s new housing index was down -0.3% as some builders offered promotional pricing to generate sales. Year-over-year, the decline was the same: down -0.3% from the previous June. (See related post: Calgary New Housing Starts Plunge)
The largest year-over-year price increase was in Toronto and Oshawa (+4.7%) followed by Winnipeg (+4.4%). Compared with June 2010, contractors’ selling prices were also higher in St. John’s (+4.3%), Regina (+3.9%), Kitchener–Cambridge–Waterloo (+3.6%) and Montréal (+3.4%).
Among the 21 metropolitan regions surveyed, 8 posted 12-month price declines in June, led by Windsor (-4.3%) and Victoria (-1.7%).
Viewing Canada as a whole, the NHPI rose 0.3% in June, following a 0.4% advance in May. Year over year, the NHPI was up 2.1% in June following a 1.9% increase in May.