Prices for new homes creep up 0.7% in November: StatsCan
Last Updated: Monday, January 12, 2009 | 10:40 AM ET
CBC News
Contractors' selling prices for new homes in November rose 0.7 per cent compared to a year ago — the smallest increase observed since August 1999, Statistics Canada reported Monday.
Compared to October, prices fell 0.3 per cent, marking the second consecutive decline, the federal agency said.
St. John's led the country with a yearly increase of 25.6 per cent and a monthly increase of 3.4 per cent. Regina followed with a yearly increase of 21.7 per cent.
Prices also increased 4.3 per cent in the Ottawa-Gatineau region and 2.0 per cent in Toronto and Oshawa. Yearly increases were also observed in Quebec City (5.4 per cent) and Montreal (4.6 per cent).
Meanwhile, Edmonton posted a yearly decline of 7.9 per cent — the largest decrease recorded for the city since May 1985. Similarly, prices in Calgary dropped 2.5 per cent, the largest decline since November 1991.
Vancouver observed a yearly decline of 2.3 per cent and a monthly decrease of 1.7 per cent while prices in Victoria fell 2.4 per cent in year-over-year comparisons.
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