Statistics
Canada announced on Friday that the New Housing Price Index (NHPI) slipped 0.1 per cent m-o-m in December
2024, following a 0.1 per cent m-o-m uptick the
previous month.
Economists had predicted
the NHPI to rise 0.2 per cent m-o-m in the final month of
2024.
According to
the report, 13 out of the 27 census metropolitan areas (CMAs) surveyed recorded
a flat m-o-m performance in new home prices last month, while 7 CMAs registered
declines, and the remaining 7 posted gains.
Greater Sudbury
(-0.7 per cent m-o-m), Calgary (-0.4 per cent m-o-m) and Toronto (-0.4 per cent
m-o-m) witnessed the largest decreases in new home prices, reflecting lower
negotiated prices and more incentives offered by builders. Meanwhile, the
combined region of Saint John, Fredericton and Moncton (+0.6 per cent m-o-m) saw the biggest advance
in new home prices in December.
In y-o-y terms, the NHPI edged up 0.1 per cent
in December, following a 0.2
per cent gain in the previous month.