BUSINESS

Canada New Housing Price Index Rose Again In November: StatsCan

01/12/2012 09:36 EST | Updated 03/13/2012 05:12 EDT
PA
OTTAWA - Statistics Canada says the price of new homes rose again in November, led by gains in Toronto and Montreal.

The agency's new housing price index rose 0.3 per cent in November, after a 0.2 per cent increase in October.

On an annual basis, the index was 2.5 per cent higher in November compared with November 2010.

The largest year-over-year price increases were recorded in Toronto and Oshawa, where they were up 6.2 per cent.

The biggest jump in prices between October and November came in Windsor, where they rose 2.0 per cent due to higher material costs and improved market conditions

The most significant monthly price decline was recorded in Calgary, where prices were down 0.4 per cent.

Calgary had seen three consecutive monthly increases and some builders there said they lowered prices in November to spur sales.

Vancouver prices were down 0.3 per cent, as some builders offered promotional prices.

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