Canada new home prices were flat in February of 2019, after decreasing 0.1 percent in the previous month, in line with market expectations. Prices were reported flat in Toronto and Calgary, and declining in Vancouver (-0.3%) and Edmonton (-0.1%), amid unfavourable market conditions. Conversely, nine census metropolitan areas reported gains, of which London and Windsor (both up 0.6%), with builders tying the gains primarily to higher construction costs. Year-on-year, new house prices went up 0.1 percent, following a 0.1 percent drop in the prior month. Housing Index in Canada averaged 67.04 Index Points from 1981 until 2019, reaching an all time high of 103.30 Index Points in November of 2017 and a record low of 37.70 Index Points in May of 1983.
Housing Index in Canada is expected to be 103.31 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Housing Index in Canada to stand at 104.00 in 12 months time. In the long-term, the Canada New Housing Price Index is projected to trend around 106.00 Index Points in 2020, according to our econometric models.