Calgary New Home Prices Post Largest Monthly Jump Since 2007

Calgary was the top contributor to the New Housing Price Index advance in February, increasing 1.0% from January. This was the largest month-over-month increase since May 2007.

Builders indicated that increases in material and labour costs were the main reasons for higher prices.  Annual prices rose 4.3% and have been accelerating for the past five months.

Overall, Canada’s NHPI rose 0.2% in February and was up 2.1% year-over-year.

Some other highlights from the Statistics Canada report:

For the third consecutive month, Winnipeg recorded the largest year-over-year price movement in Canada.

The largest annual decreases continued to be in British Columbia, where new housing prices in Victoria were down 2.2% and prices in Vancouver declined 0.6%. Vancouver and Victoria have not seen annual increases in new home prices since September 2011 and September 2008, respectively.

calgary-nhpi-feb-2013

Source: Statistics Canada (click to enlarge)

Source: Statistics Canada (click to enlarge)

4 responses to “Calgary New Home Prices Post Largest Monthly Jump Since 2007

  1. Hi Mike,
    Your new web sections on the right-hand side of the page (Market Snapshot and recent blog posts) make it impossible to scroll when looking at the old MLS website listings … can you fix? Tx.

  2. Hi Bast,

    I changed the iframe width…Is it better now?

  3. Interesting, looking at that graph, how minimal those jumps are relative to the increase in 06 where things went up over 30 percent.

  4. Much better, Mike – thanks much!

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