StatCan Reports Dip, Jump In National Home Prices

A report by Statistics Canada shows the cost of a new home in Canada dipped slightly in some regions but sharply increased in others.

Figures show prices declined by 0.2 per cent on a month-over-month basis in November, signalling the third consecutive month for decreases.

Statistics Canada says Sudbury, Saskatoon, Ottawa and Montréal recorded the most significant drops in November, with each going down by 0.5 per cent.

Prices also went down by 0.4 per cent in Edmonton, 0.3 per cent in Kelowna and 0.2 per cent in Vancouver.

There was no change to the month-over-month costs of new homes in Atlantic Canada.

The agency says builders in those regions cited deteriorating market conditions and decreased construction costs as reasons for the declines.

Meanwhile, Québec City recorded increases of 0.2 per cent on a month-by-month in November, following a 0.4 per cent increase in October.

The national year-over-year cost of a home jumped by 4.1 per cent.

Statistics Canada says Calgary recorded the most significant year-over-year gain in new home prices at 13.6 per cent, followed by Winnipeg at 9.9 per cent and Québec City at 7.3 per cent.

You can find the full report here.