From CBC News.
Contractors' selling prices for new homes decreased 0.6 per cent between December and January, Statistics Canada reported Wednesday.
The agency said the largest decreases were recorded in cities in Western Canada, and the pace of decrease in January was slightly faster than the 0.1 per cent decline observed the previous month.
Prices declined 2.8 per cent in Edmonton, 2.1 per cent in Calgary, 1.1 per cent in Victoria and 0.7 per cent in Vancouver in that period. Builders in those four cities reported unfavourable market conditions.
Contractors' selling prices for new homes in New Brunswick, however, increased between December and January.
In Saint John, Fredericton and Moncton, new housing prices increased 1.4 per cent from a month earlier.
Statistics Canada said builders in New Brunswick increased their list prices or returned to their list prices, after reporting lower negotiated prices in previous months.
Meanwhile, in St. John's and Saskatoon, prices for new homes increased 0.8 per cent from a month earlier, while in Quebec City prices increased 0.6 per cent.
Statistics Canada said the new housing price index decreased by 0.8 per cent in January compared with the same month in 2008. The drop was the first year-over-year decrease in Canada since January 1997.
Year-over-year declines were recorded on the Prairies, with a 10.4 per cent decrease in Edmonton, a 6.5 per cent decrease in Calgary and a 2.7 per cent decrease in Saskatoon.
In B.C., Victoria reported a year-over year decline of 4.2 per cent, while Vancouver posted a 3.2 per cent decline.
Showing posts with label alberta. Show all posts
Showing posts with label alberta. Show all posts
Wednesday, March 11, 2009
Saturday, January 10, 2009
New Home Prices Falling
From the Financial Post:
New home prices fell in November for the second consecutive month-to-month decrease, Statistics Canada said Monday.
The average price on a new house declined 0.3%, the federal agency said, as demand continued to cool across the national real estate market in the fall.
The dip continues the first reverse in home prices in more than a decade, following the 0.4% decline experienced in October.
Yet the results varied from region to region, with some markets still witnessing considerable price increases.
St. John's recorded the largest annualized gain, with the value of a new home up more than 25% from 2007, a clip that narrowly outpaced Regina. The monthly increase in St. John's was 3.4%.
In a sign that Saskatchewan is beginning to feel the bite of a recession it has largely avoided so far, home prices were flat in Regina in November while in Saskatoon prices continued to come down.
New home prices were down 0.5% in Saskatoon "confirming a trend of deceleration in this city," Statscan said. "Builders continued to report difficult market conditions."
The drops continued further west. New home prices in Edmonton recorded a 12-month plunge of 7.9% - largest monthly decline since May 1985. Prices dipped 2.5% in Calgary. On a monthly basis, prices fell 0.3% in Edmonton and 1.1% in Calgary between October and November.
On the West Coast, builders cut new home prices in Vancouver by 1.7% in November, a trend continued in Victoria, Statscan said.
Markets in Eastern Canada, which have shown more stable supply-demand conditions, continued to rise, Statscan said. Compared with November 2007, contractors' selling prices were 4.3% higher in Ottawa and 2.0% higher in Toronto. In Québec, the 12-month growth rate was 5.4%, while in Montréal, prices increased 4.6%, the agency said.
No market east of Saskatchewan experienced a month-to-month decline in new home prices.
New home prices fell in November for the second consecutive month-to-month decrease, Statistics Canada said Monday.
The average price on a new house declined 0.3%, the federal agency said, as demand continued to cool across the national real estate market in the fall.
The dip continues the first reverse in home prices in more than a decade, following the 0.4% decline experienced in October.
Yet the results varied from region to region, with some markets still witnessing considerable price increases.
St. John's recorded the largest annualized gain, with the value of a new home up more than 25% from 2007, a clip that narrowly outpaced Regina. The monthly increase in St. John's was 3.4%.
In a sign that Saskatchewan is beginning to feel the bite of a recession it has largely avoided so far, home prices were flat in Regina in November while in Saskatoon prices continued to come down.
New home prices were down 0.5% in Saskatoon "confirming a trend of deceleration in this city," Statscan said. "Builders continued to report difficult market conditions."
The drops continued further west. New home prices in Edmonton recorded a 12-month plunge of 7.9% - largest monthly decline since May 1985. Prices dipped 2.5% in Calgary. On a monthly basis, prices fell 0.3% in Edmonton and 1.1% in Calgary between October and November.
On the West Coast, builders cut new home prices in Vancouver by 1.7% in November, a trend continued in Victoria, Statscan said.
Markets in Eastern Canada, which have shown more stable supply-demand conditions, continued to rise, Statscan said. Compared with November 2007, contractors' selling prices were 4.3% higher in Ottawa and 2.0% higher in Toronto. In Québec, the 12-month growth rate was 5.4%, while in Montréal, prices increased 4.6%, the agency said.
No market east of Saskatchewan experienced a month-to-month decline in new home prices.
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