Prices of new homes in Canada advanced by 1.1% from the previous month in March of 2021, following one of the largest monthly increases on record in February and slightly below market expectations of a 1.4% rise. Builders in most cities tied the increase in home prices to higher construction costs and shortages of construction materials. At the same time, the strong demand for new houses, fueled by lower borrowing costs and work from home restrictions, continued pushing up new home prices. As many home owners looked for larger living spaces, first-time home buyers also rushed to enter the market. Shortages of homes available on the market have also been creating competition between potential buyers, with some builders only releasing a few lots at a time. New house prices were up in 23 of the 27 census metropolitan areas, particularly in Charlottetown (3.4%). Year-on-year, new house prices jumped 7.9%, the steepest increase since May of 2007. source: Statistics Canada

Housing Index in Canada averaged 69.01 points from 1981 until 2021, reaching an all time high of 112.30 points in March of 2021 and a record low of 37.70 points in May of 1983. This page provides - Canada New Housing Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada New Housing Price Index - data, historical chart, forecasts and calendar of releases - was last updated on April of 2021.

Housing Index in Canada is expected to be 112.00 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 114.50 in 12 months time. In the long-term, the Canada New Housing Price Index is projected to trend around 115.00 points in 2022 and 118.00 points in 2023, according to our econometric models.

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Canada New Housing Price Index

Actual Previous Highest Lowest Dates Unit Frequency
112.30 111.10 112.30 37.70 1981 - 2021 points Monthly
2016=100, NSA


Calendar GMT Actual Previous Consensus TEForecast
2021-03-18 12:30 PM New Housing Price Index MoM Feb 1.9% 0.7% 0.3%
2021-03-18 12:30 PM New Housing Price Index YoY Feb 7% 5.4% 5.1%
2021-04-22 12:30 PM New Housing Price Index MoM Mar 1.1% 1.9% 1.4% 1.3%
2021-04-22 12:30 PM New Housing Price Index YoY Mar 7.9% 7% 7.3%
2021-12-21 12:30 PM New Housing Price Index MoM Nov
2021-12-21 12:30 PM New Housing Price Index YoY Nov
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Canada New Housing Prices Rise Less than Expected
Prices of new homes in Canada advanced by 1.1% from the previous month in March of 2021, following one of the largest monthly increases on record in February and slightly below market expectations of a 1.4% rise. Builders in most cities tied the increase in home prices to higher construction costs and shortages of construction materials. At the same time, the strong demand for new houses, fueled by lower borrowing costs and work from home restrictions, continued pushing up new home prices. As many home owners looked for larger living spaces, first-time home buyers also rushed to enter the market. Shortages of homes available on the market have also been creating competition between potential buyers, with some builders only releasing a few lots at a time. New house prices were up in 23 of the 27 census metropolitan areas, particularly in Charlottetown (3.4%). Year-on-year, new house prices jumped 7.9%, the steepest increase since May of 2007.
2021-04-22
Canada House Price Growth at Over 3-Decade High
Prices of new homes in Canada rose by 1.9 percent from the previous month in February of 2021, the most since February 1989. Builders in most cities linked the spike to higher construction costs as well as to an active housing market. Record-low interest rates remained a key driver for housing activity. Furthermore, buyers, including first-time buyers and those looking to upgrade their living arrangements, also added pressure to housing prices in an already low-supply market. New house prices were up in 22 of the 27 census metropolitan areas. Nationally, new house prices rose 7.0 percent year over year, the largest increase since July 2007.
2021-03-18
Canada New Housing Prices Rise More than Expected
Prices of new homes in Canada rose by 0.7 percent from the previous month in January of 2021, following a 0.3 percent increase in December and above market expectations of a 0.5 percent gain. It was the ninth straight monthly increase in new home prices and the strongest in three months, linked primarily to the reduced supply of new homes and continuing high demand amid lower borrowing costs and consumer desire for more living space during the pandemic. New house prices were up in 22 of the 27 census metropolitan areas surveyed and were unchanged in 5 CMAs. Year-on-year, new house prices advanced 5.4 percent, the largest increase since March of 2008.
2021-02-18
Canada New Housing Prices Rise 0.3% MoM
Prices of new homes in Canada rose by 0.3 percent from the previous month in December 2020, following a 0.6 percent increase in the previous month. New home prices rose in 17 of the 27 census metropolitan areas surveyed in December, with prices in Oshawa (+3.1 percent) growing at the fastest pace. Builders in Oshawa tied the increase to strong market conditions over the past months. Employment data also supported the demand for housing in the city, as Oshawa led all CMAs in employment growth in December. At the same time, General Motors recently announced that an assembly plant will reopen in Oshawa, which is expected to create 2,300 new jobs. In contrast, Edmonton posted the only monthly decline (-0.2 percent), driven by lower negotiated selling prices. Year-on-year, new house prices advanced 4.6 percent in December, the same pace as in November, the largest increase since April 2008.
2021-01-21

Canada New Housing Price Index
In Canada, New Housing Price Index (NHPI) measures changes over time in the contractors' selling prices of new residential houses, where specifications of each house remain the same between two consecutive periods.