New housing prices in Vancouver fell for the second month in a row in December, according to Statistics Canada data released this morning.
Vancouver’s price index dipped 0.3% to 97.6 from 97.9 in November. Year-over-year, the decrease was 0.5% from 98.1 in December 2011.
Nationwide, the price index increased in December by 0.2%, following a 0.1% increase in November. Year-over-year, new Canadian housing prices increased by 2.3%.
The biggest increases between December 2011 and December 2012 were found in:
- Winnipeg: 5.0%;
- Toronto and Oshawa: 3.9%; and
- St. Catharines-Niagara: 3.3%.
The biggest year-over-year drop in prices was in Victoria, which saw a 3.0% decrease since December 2011.
The New Housing Price Index measures changes in new residential house selling prices agreed upon between the contractor and the buyer at the time of the signing of the contract.
