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A "For Sale" sign is posted outside of at Toronto townhome. (Tim Fraser/Tim Fraser/For The Globe and Mail)
A "For Sale" sign is posted outside of at Toronto townhome. (Tim Fraser/Tim Fraser/For The Globe and Mail)

New home prices edge higher in January Add to ...

The prices of new homes in Canada edged up 0.1 per cent in January from December, the 10th consecutive monthly increase, on strength in two major western cities, Statistics Canada said on Thursday.

The rise matched analysts’ expectations. Compared with a year earlier the index was up 2.4 per cent, slightly down from the 2.5 per cent year-on-year growth noted in December, 2011.

The metropolitan regions of Calgary and Vancouver both posted 0.3-per-cent advances over December. The largest region, Toronto and Oshawa, was flat.

The most significant monthly price decline was the 0.8 per cent seen in Victoria, as builders cut prices to stimulate sales in a slow market.

Over all, prices were up in eight regions in January, held steady in nine, and dropped in four.

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