New home prices continue to cool

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Prices for new homes continue to cool, according to the latest data from Statistics Canada.

Prices in Canada rose 0.2 per cent in April after a 0.3 per cent gain in March, said Statistics Canada in releasing its New Housing Price Index, providing further evidence that the country’s housing market overall continues to moderate.

Compared with a year earlier, prices advanced 2.5 per cent compared with a 2.6 per cent year-on-year increase in March.

Price increases in the Toronto and Oshawa region and in Edmonton explained most of the monthly rise in the new housing price index, Statscan said. Toronto-Oshawa prices climbed 0.3 per cent for a 5.9 per cent annual jump. Regina (5. 6 per cent) and Winnipeg (4.3 per cent) also saw significant year-over-year increases.

Among the 21 metropolitan regions survey, three posted 12-month prices declines in April, with Victoria (-2.3 per cent) posting the largest decrease.


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