Statistics
Canada reported on Monday the New Housing Price Index (NHPI) was flat m-o-m in August,
following a 0.2 per cent m-o-m rise in the previous month.
Economists had anticipated
the NHPI to increase 0.1 per cent m-o-m in August.
According to
the report, 13 out of the 27 census metropolitan areas (CMAs) surveyed posted a
flat m-o-m performance in new home prices last month, while 8 CMAs recorded
gains, and the remaining 6 registered declines.
Regina (+0.3
per cent m-o-m) and Oshawa (+0.28 per cent m-o-m) showed the largest increases
in new home prices last month, with builders citing improving market
conditions as the reason for the advance. Meanwhile, Calgary (-0.4 per cent m-o-m) and St. Catharines-Niagara
(-0.9 per
cent m-o-m) demonstrated the biggest decreases in new home prices in August.
In y-o-y terms, the NHPI was also unchanged in August, following a 0.1 per cent uptick in the previous month.