Economy
March 13, 2014
Canadian Housing Starts and New Home Prices on the Rise
Written by Sandy Williams
Housing starts and new home prices both improved in early 2014. Canadian new home prices rose 0.3 percent in January following a 0.1 percent drop in December. The increase in the New Housing Price Index (NHPI) was the largest since May 2012.
Prices soared 1.3 percent in the Calgary metropolitan area due to higher material and labor costs and market conditions. Builders raised list prices in Saskatoon for the new calendar year. Winnipeg prices rose 0.5 percent in January after fluctuating between 0.0 and 0.2 percent in previous months. New home prices in Canada were unchanged in 7 of the 21 metropolitan areas surveyed.
