Canada new housing price index rises by 0.2%
- Canada new housing price index for June rose 0.2% in June compared to May
- Prices were up in 12 of the 27 census metropolitan areas (CMAs) surveyed, unchanged in 14 and down in 1.
- Nationally, new home prices rose 7.9% year-over-year in June, the smallest increase since March 2021. Calgary led the gains with a 15% gain. Prices were also up in Winnipeg (+14.9%), Kitchener–Cambridge–Waterloo (+13.2%) and London (+12.7%) on a year-over-year basis in June.
The gains and housing have been strong since the middle of 2020. The rise this month of 0.2% although still higher is a slowing of the trajectory., Higher Canada rates should slow the trajectory of prices going forward is affordability becomes more challenging.