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
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