Statistics
Canada reported on Thursday the New Housing Price Index (NHPI) rose 0.4 percent
m-o-m in September, following a 0.7 percent m-o-m advance in the previous
month.
According
to the report, new home prices increased in 13 out of the 27 census
metropolitan areas (CMAs) surveyed in September, with Windsor (+1.9 percent
m-o-m) recording the largest monthly gain in new home prices amid strong demand
for new homes. New home prices also went up in Oshawa (+1.8 percent m-o-m), Victoria
(+1.7 percent m-o-m) and Montréal (+1.7 percent m-o-m). At the same time, 5
CMAs posted declines in new home prices - the largest number of CMAs with a
price decrease since March 2020, - led by Saskatoon (-0.9 percent m-o-m).
In y-o-y terms, NHPI surged 11.3 percent in September,
following a 12.2 percent climb in the previous month.