New Housing Price Index (NHPI): July 2011

The New Housing Price Index (NHPI) rose 0.1% in July according to the Statistics Canada report released today. Year over year, the NHPI was up 2.3% in July following a 2.1% increase in June.

It was a different story for Calgary which recorded the most significant monthly price decline out of the cities surveyed.   Prices were down -0.5% from the previous month as some builders offered free upgrade packages and promotional pricing to generate sales.   Year-over-year, the NHPI for Calgary was down -0.8%.

The largest year-over-year price increase was in Toronto and Oshawa (+5.2%) followed by Winnipeg (+4.3%).  The largest yoy price decrease were found in Windsor (-2.7%) followed by Victoria (-1.6%)

(click to enlarge image)

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