New home prices hit record high in December: StatsCan

The new housing price index rose 0.1% over one month, the fifth straight increase, but below the 0.2% predicted by economists. The largest gains were seen in Winnipeg, up 1.1%, and attributed to new building code regulations. Windsor, Ont., recorded the largest drop, down 0.6% in December.

Over 12 months, new home prices were up 2.1% in December, the agency said. The largest year-over-year gains were seen in St. Johns, Nfld., where new home prices rose 7.9%, followed by 6% in Regina and 5.9% in Winnipeg.

However, it was land not housing that caused the positive shift in pricing nationally in December. The housing-only component of the index fell 0.1%, compared to a 0.2% rise in the land component.

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