The price of new homes dipped in the twelve months to March, according to the New Housing Price index released by Statistics Canada May 8.
Year-over-year, prices were 1.1% lower than a year ago. This represents the biggest drop in the country compared with all other major cities. Ottawa-Gatineau came in second place with a decrease of 1.0%.
Victoria (down 0.9%), Edmonton (down 0.1%) and Charlottetown (down 0.4%) were the only other cities where prices dropped over the year.
Across the country, prices increased an average of 1.6% over the same period. The strongest gains by far was found in Calgary, which saw a jump of 7.5%. After Calgary, the biggest increases were seen in St. Catharines-Niagara (up 3.4%) and Saskatoon (up 2.9%).
Prices were down 0.1% compared with February. The average new home price across the country increased 0.2% over the same period, with Calgary once again posting the highest increase at 0.8%. This is the third consecutive month in which Calgary led the country in price increases.
