New house price index increased 0.1 per cent in December

Newly-released data from Statistics Canada reveals an increase of 0.1 per cent for the New Home Price Index in December, following a 0.2 per cent rise in November.

The combined region of Toronto and Oshawa (up 0.2 per cent) was the top contributor to the national gain in December, while St. Catharines–Niagara recorded the largest monthly price increase (up 0.9 per cent). New list prices and market conditions were the reasons given by builders.

Prices were unchanged in 11 of the 21 metropolitan areas surveyed. Builders in Alberta reported no change in new home prices in December. Prices in both Calgary and Edmonton have been generally flat or decreasing throughout the year as a result of market conditions.

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