Calgary New Home Prices Post Largest Increase Since 2007

Calgary new home prices in January increased at over 4x the annual pace of the rest of Canada according to data released by Statistics Canada today.

Year-over-year, Calgary saw a 7.0% increase, its highest annual rise since July 2007.   By contrast, the New Housing Price Index for Canada overall rose by 1.5% y/y.

Between December and January, Calgary prices were up 1.3%.  Builders reported that higher material and labour costs as well as market conditions were the primary reasons for the increase, the largest in the region since April 2007.

You can download the January 2014 Statistics Canada report here pdf

Calgary new home price growth led Canada in January

Calgary new home price growth led Canada in January

New Housing Price Index: January 2014 (source: Statistics Canada)

New Housing Price Index: January 2014 (source: Statistics Canada)

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