Calgary New Home Price Gain Leads Canada

Calgary was the top contributor to the national advance in May according to the New Housing Price Index released by Statistics Canada today.

Prices for new homes rose 0.9% between April and May as Calgary builders reported an increase in material and labour costs as the main reason for higher prices.

Year-over-year Calgary prices were up 5.3%, second to Winnipeg.  Winnipeg has recorded the largest year-over-year price movements in Canada since December 2012.

Among the 21 metropolitan areas surveyed, only Victoria (-0.7%) and Vancouver (-0.9%) posted 12-month price declines in May. This continued a stretch of 16 consecutive annual decreases in the two regions of British Columbia.

Overall for Canada, the NHPI rose 0.1% in May and 1.8% year-over-year. This was the smallest annual gain in the index since March 2010 (+1.7%)

Source: Statistics Canada (click to enlarge)

Source: Statistics Canada (click to enlarge)

Calgary & Edmonton: New Housing Price Index

Calgary & Edmonton: New Housing Price Index

 

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