New home prices Canada

Canada new housing prices in Canada increased 0.2 percent month-over-month in December 2019, following a 0.1 percent drop in the previous month while markets had expected no change. It was the largest monthly rise in housing prices for a December month since 2009. Prices for new houses increased the most in Ottawa (0.6 percent), with builders reporting market conditions and construction costs as the primary reasons for the gain. Higher demand for housing, as well as low inventory levels, continued to push prices up in the region. In contrast, prices were down in Greater Sudbury (-0.3 percent) and Gatineau (-0.2 percent), mainly due to lower negotiated selling prices. Year-on-year, new home prices went up 0.1 percent, the first annual increase since April 2019, after decreasing 0.1 percent in November.

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