New home prices for Canada increased 0.1% for the second consecutive month in August of 2022. Prices were unchanged in most of the 27 census metropolitan areas (CMAs) surveyed; prices were up in 4 CMAs and down in 1. Activity in the new residential construction sector was ongoing in August despite the continued turbulence in this market. Higher construction costs, caused by earlier supply chain disruptions and rising labour costs, pushed prices of new homes up and left developers with less flexibility to adjust to the market conditions. The year-over-year growth continued to moderate in August, with new home prices rising 6.9%, the smallest increase since January 2021. Calgary (+14.9%) once again recorded the largest year-over-year increase in new home prices, followed by Winnipeg (+13.4%) and Kitchener–Cambridge–Waterloo (+11.9%). source: Statistics Canada
House Price Index MoM in Canada averaged 0.24 percent from 1981 until 2022, reaching an all time high of 3.10 percent in March of 1987 and a record low of -1.90 percent in February of 1991. This page includes a chart with historical data for Canada House Price Index MoM. Canada New Housing Price Index MoM - data, historical chart, forecasts and calendar of releases - was last updated on October of 2022.