Ekonomické zprávy

Canada’s new housing prices hold steady in March

Statistics Canada announced on Monday the New Housing Price Index (NHPI) was unchanged m-o-m in March, following a 0.1 per cent m-o-m gain in the previous month.

Economists had expected the NHPI to edge up 0.1 per cent m-o-m in March.

According to the report, 12 out of the 27 census metropolitan areas (CMAs) surveyed posted flat m-o-m performance in new home prices last month, while 9 CMAs recorded advances, and the remaining 6 registered declines.

Ottawa (-0.9 per cent m-o-m), London (-0.3 per cent m-o-m) and Kitchener-Cambridge-Waterloo (-0.3 per cent m-o-m) logged the largest declines in new home prices last month, with builders linking the decreases to weak market conditions. Meanwhile, Saint John, Fredericton, and Moncton (+0.7 per cent m-o-m), Victoria (+0.5 per cent m-o-m) and Calgary (+0.5 per cent m-o-m) registered the biggest increases in new home prices in March.

In y-o-y terms, the NHPI dropped 0.4 per cent in March, the same pace as in the previous month. This represented the 12th straight annual decrease in the NHPI.

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