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New home price rise slows

The cost of a new home rose 0.1% in February, a slower pace than the previous month, Statistics Canada said today. Economists had expected the federal agency’s price index would increase 0.4% during the month, the same pace as in January.

The price increases were led by Regina, up 2% from the previous month, and Winnipeg and London, Ont., both up 1.9%, the agency said.

The only metropolitan areas to record declines were Toronto and Oshawa, both down 0.7%, and Charlottetown, which declined 0.5%.

On a yearly basis, new house prices rose 0.9% in February, following a 0.1% annual increase in January. “This was the second consecutive year-over-year increase recorded since December 2008,” Statistics Canada said.

April 13, 2010 in New in New Homes | Permalink


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Posted by: torontohomeandhouse123 | Jun 11, 2010 3:53:01 AM

Interesting to see Oshawa as one of the areas that had a decline. Since Oshawa has been one of the fastest growing communities for the last few years then I guess it was bound to happen eventually!

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Posted by: Paul Salamanca | Apr 21, 2010 9:52:01 AM

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