- Prior was +0.1%
- New home prices -1.0% y/y
- Prices were unchanged in 15 of the 27 census metropolitan areas surveyed, down in 9 and up in 3
- New home prices decreased the most month over month in September in Montreal (-0.7%), Edmonton (-0.7%) and Kelowna (-0.6%)
Canadian Housing Minister Sean Fraser yesterday sent a letter to MPs and said increasing the housing supply alone is insufficient: ‘Canada will need careful well-calibrated measures to moderate housing demand.’
There is talk of higher down-payments for investor-owned properties along with limiting access to borrowing, which could come in November.
