New Home Prices on the Rise
By on Mar 11, 2011
Statistics Canada today released its New Home Price Index for the month of January.
The Index rose 0.2% in January, fresh off of a 0.1% rise in December.
Leading the way in Ontario were Toronto and Oshawa, which observed a 2.1%increase versus January of 2010. Builders reported to Stats Canada that the reason for the price increase was a stronger then expected market.
Hamilton saw the biggest decrease, with a -0.2 percent change in prices. Builders reported lower then expected demand and lower negotiated sale prices.
The New Housing Price Index measures the price of a ‘new construction’ home over a specified time. It is designed to measure the changes in the selling prices of new homes over specific periods of time..
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