New Home Prices Rise in November
By on Jan 13, 2011
New home prices in Canada have risen for a fourth consecutive month, Statistics Canada reports today.
The New Housing Price Index rose 0.3% in November, fresh off the heals of a 0.1% increase in October. This rise was also higher then had been previously projected by Statistics Canada, who had projected a 0.1 % increase.
The New Housing Price Index was up year over year 2.3% in November, following a 2.5% in October.
Toronto and Oshawa were up 2.8%, while Ottawa-Gatineau was up 5.4%, representing the top growth contributors in Ontario
The largest price decreases in Ontario where recorded in Windsor (down -1.8) and St. Catharines - Niagara (-1.1%). The determining factor in those decreases with builders offering price reductions and incentives in order to generate sales.
Of the 21 areas surveyed, 9 witnesses increases, 6 saw no change, and 6 saw decreases.
Statistics Canada produces statistics that help Canadians better understand their country, its population, resources, economy, society and culture.
