Ekonomické zprávy

Canada’s new housing prices rise 0.1 per cent in February

Statistics Canada informed on Thursday the New Housing Price Index (NHPI) edged up 0.1 per cent m-o-m in February, following a 0.1 per cent slip m-o-m in the previous month. This was the first monthly decrease in new housing prices since August 2023 (+0.1 per cent m-o-m).

Economists had forecast the NHPI to be flat m-o-m in February.

According to the report, 19 out of the 27 census metropolitan areas (CMAs) surveyed recorded flat m-o-m performance in new home prices last month, while 6 CMAs registered advances, and the remaining 2 posted declines.

Montréal (+0.4 per cent m-o-m) and Edmonton (+0.3 per cent m-o-m) logged the largest gains in new home prices last month. Meanwhile, Winnipeg (-0.9 per cent m-o-m) registered the biggest drop in new home prices in February, with builders linking the decrease to lower construction costs.

In y-o-y terms, the NHPI decreased 0.4 per cent in February, following a 0.7 per cent fall in the previous month. This marked the 11th straight annual decline in the NHPI.

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