February new home prices in the metropolitan region of Calgary increased 0.9% over the previous month, according to the New Housing Price Index released by Statistics Canada today. Year-over-year, prices were up 6.9% in February.
Builders in our region reported that higher material and labour costs, market conditions and the implementation of the new home warranty program in Alberta were the primary reasons for the increase.
It’s the 9th straight month Calgary new home price growth has led the nation on an annual basis. (June 2013 top spot was shared with Winnipeg) It’s also the 25th consecutive month that new home prices in our city have been up year-over-year, a string beginning back in February 2012.
You can download the Statistics Canada report here