Canada July new housing price index +0.1% vs +0.1% m/m expected

Latest data released by Statistics Canada - 13 September 2018

• Prior +0.1%
• New housing price index +0.5% vs +0.5% y/y expected
• Prior +0.8%

The slowdown continues in Canada's housing market as the year-on-year estimate drops to only +0.5%. Higher mortgage rates and tougher mortgage rules have been a real bane for the housing market, which is now competing with Australia, New Zealand, and China in the global slowdown really.