Calgary posts the largest year-over-year price increase
The New Housing Price Index (NHPI) fell 0.1% in January, largely as a result of lower negotiated selling prices. This was the first decrease at the national level since July 2010.
The combined metropolitan region of Toronto and Oshawa was the top contributor to the monthly decline with prices down 0.1% from the previous month. The decrease was mainly due to builders offering promotional packages to stimulate sales and lower negotiated selling prices. However, it was moderated by some reports of higher prices due to market conditions and increased land costs. This was the first decline in Toronto and Oshawa since July 2014.
Higher list prices were offset by lower negotiated selling prices in the census metropolitan areas (CMAs) of Ottawa–Gatineau (-0.3%) and Vancouver (-0.1%). This was the largest decrease in Ottawa–Gatineau since November 2013 and the third consecutive monthly decrease in Vancouver.
Following three months of flat prices, the CMA of Victoria posted a 0.5% decline in January as a result of lower negotiated selling prices. New housing prices also fell in Edmonton (-0.2%) as a result of lower negotiated selling prices. This was the first monthly price decline in Edmonton since April 2014.
New housing prices in Calgary were unchanged following 25 months of increases. Prices were also unchanged in 10 other metropolitan areas surveyed.
more
The Daily*—*New Housing Price Index, January*2015
The New Housing Price Index (NHPI) fell 0.1% in January, largely as a result of lower negotiated selling prices. This was the first decrease at the national level since July 2010.
The combined metropolitan region of Toronto and Oshawa was the top contributor to the monthly decline with prices down 0.1% from the previous month. The decrease was mainly due to builders offering promotional packages to stimulate sales and lower negotiated selling prices. However, it was moderated by some reports of higher prices due to market conditions and increased land costs. This was the first decline in Toronto and Oshawa since July 2014.
Higher list prices were offset by lower negotiated selling prices in the census metropolitan areas (CMAs) of Ottawa–Gatineau (-0.3%) and Vancouver (-0.1%). This was the largest decrease in Ottawa–Gatineau since November 2013 and the third consecutive monthly decrease in Vancouver.
Following three months of flat prices, the CMA of Victoria posted a 0.5% decline in January as a result of lower negotiated selling prices. New housing prices also fell in Edmonton (-0.2%) as a result of lower negotiated selling prices. This was the first monthly price decline in Edmonton since April 2014.
New housing prices in Calgary were unchanged following 25 months of increases. Prices were also unchanged in 10 other metropolitan areas surveyed.
more
The Daily*—*New Housing Price Index, January*2015