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

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