Canada new housing pricing data for May 0.1% versus -0.1% last month

• Prior month -0.1%
• The national index for new home prices in Canada increased by 0.1% month over month in May, marking the first increase since August 2022.
• Prices were up in 6 out of the 27 census metropolitan areas (CMAs) surveyed, down in 8 CMAs, and unchanged in the remaining 13 CMAs.
• Builders cited increased construction costs as the reason for the price growth in the Québec, Calgary, and Kelowna CMAs, which saw the largest month-over-month increases.
• Sudbury and Sherbrooke reported the largest month-over-month decreases, with weak market conditions as the reason for the decline.
• Nationally, new home prices were down 0.6% year over year in May, influenced by high interest rates impacting housing market activity.
• Victoria recorded the largest year-over-year decline in new home prices, followed by St. Catharines-Niagara and Edmonton.
• On the other hand, the Québec, Charlottetown, and St. John's CMAs reported the largest year-over-year increases in new home prices.

Adam Button discussed the dilemma facing the housing market in a post yesterday as supply continues to be the major problem. You can read about it by CLICKING HERE

/inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term