Canada New Housing Price Index1981-2021 Data | 2022-2023 Forecast | Calendar

Prices of new homes in Canada edged up 0.6 percent over a month earlier in June of 2021, easing from a 1.4 percent rise in May. New house prices were up in 26 of the 27 census metropolitan areas surveyed, with Vancouver having recorded the only decline of this month (-0.3%), while Calgary saw the highest increase (+3.5%). At the same time, new home prices were almost unchanged in Toronto (+0.1%). The Canadian housing market showed signs of moderating nationally, as new listings decreased for the third straight month (-0.7%), and sales activity was lower in 92% of all local markets. On an annual basis, new house prices jumped 11.9 percent in June, one of the steepest increases on records, continuing an upward trend that began in December of 2020.

Prices of new homes in Canada increased by 1.4 percent from the previous month in May of 2021, following a 1.9 percent rise in April. New house prices were up in 19 of the 27 census metropolitan areas surveyed, with Winnipeg reporting the largest price hike (5.1 percent). However, real estate prices went up at a softer pace in Toronto (0.4 percent), Vancouver (0.8 percent), and Montreal (1.4 percent), as demand in the three largest housing markets in Canada retreated from the previous month. On an annual basis, new house prices jumped 11.3 percent in May, the steepest increase since November of 2006, continuing an upward trend that began in December of 2020.

Prices of new homes in Canada rose 1.9 percent from the previous month in April of 2021, following a 1.1 percent increase in March. New house prices were up in 22 of the 27 census metropolitan areas surveyed, as demand remained strong despite higher construction costs linked to price increases for softwood lumber. Year-on-year, new house prices jumped 9.9%, the largest increase since February 2007, continuing an upward trend that began in December of 2020.

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.