Calgary New Home Price Gains Accelerated In September

Statistics Canada reports that the largest new home price increase in September occurred in Calgary, both on a monthly and annual basis.

New home prices in Calgary have been increasing since December 2011.  Between August & September, prices were up 0.5%.   Builders reported that rising material and labour costs as well as higher land development costs contributed to the price gain.

Year-over-year, prices in our city advanced 6.3%.  That’s the largest annual increase since July 2007.

Other highlights

  • Prices fell 0.4% in Edmonton – the largest monthly decrease since June 2009.
  • Ottawa–Gatineau (-0.3%), Vancouver (-1.2%) and Victoria (-0.6%) experienced 12-month price declines. Annual prices in the two regions of British Columbia have been decreasing since early 2011.
  • In Canada overall, the NHPI rose 1.6% y/y  — the smallest annual increase since February 2010.  Prices were unchanged month-over-month.
September 2013 New Housing Price Index

September 2013 New Housing Price Index

Please feel free to post your comment or question

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s