Skip to main content

A "For Sale" sign is posted outside of at Toronto townhome.

Tim Fraser/tim fraser/The Globe and Mail

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.

Story continues below advertisement

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.

Report an error
As of December 20, 2017, we have temporarily removed commenting from our articles. We hope to have this resolved by the end of January 2018. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.