Wednesday, February 11, 2009

New Home Prices Falling Across Canada

From the Financial Post:

OTTAWA - The selling price of new homes in Canada went down by 0.1% between November and December, the third consecutive monthly decrease, Statistics Canada said Wednesday.

Builders in Saskatoon cited reduced labour costs as new housing prices fell by 0.7% in that city, while prices went down by 1.3% in Calgary and 0.3% in Edmonton, the federal agency said. Monthly prices increased slightly by 0.2% in Ottawa–Gatineau in December, but remained unchanged in Toronto and Oshawa, Quebec, Montreal and Vancouver.

On a year-over-year basis, the new housing price index increased by 0.4% in December, a slower pace than the 0.7%t increase recorded in November.

The largest year-over-year increase in new housing prices was registered in St. John's at just over 24%, followed by Regina at 21.7%.

Compared with December 2007, Statistics Canada says contractors' selling prices were 4.5% higher in Ottawa–Gatineau and nearly 2% higher in Toronto and Oshawa.

New housing prices in Saskatoon rose by 0.9% year-over-year, confirming a continuing trend of deceleration in this city.

Vancouver and Victoria also posted year-over-year declines in new housing prices for the third consecutive month.

Canwest News Service


johnnyrent said...


With the untimely departure of PaulB, would you consider picking up his daily numbers. I'm certain he'd provide you with the spreadsheets. The lack of daily figures as he presented them will leave quite a void in the local RE blogsphere.

mohican said...

I would like to continue the numbers and host them here but I do not have access to the numbers because I'm not a realtor.

I would need a willing realtor to provide the daily or weekly numbers update.