New home prices in Canada dropped by 0.4% in October 2024, following two months of no change and against expectations of a 0.1% increase, marking the sharpest monthly decline since April 2009. Prices decreased in 9 out of 27 metropolitan areas, with the largest drops recorded in Toronto (-1.2%), Vancouver (-0.6%), and Windsor (-0.6%). In contrast, the biggest increases were seen in Winnipeg (+0.4%) and Calgary (+0.2%). Compared to last year, new home prices fell 0.2% in October, following a 0.2% increase in the previous month. source: Statistics Canada

House Price Index MoM in Canada decreased to -0.40 percent in October from 0 percent in September of 2024. House Price Index MoM in Canada averaged 0.23 percent from 1981 until 2024, reaching an all time high of 3.10 percent in March of 1987 and a record low of -1.90 percent in February of 1991. This page includes a chart with historical data for Canada House Price Index MoM. Canada New Housing Price Index MoM - data, historical chart, forecasts and calendar of releases - was last updated on November of 2024.

House Price Index MoM in Canada decreased to -0.40 percent in October from 0 percent in September of 2024. House Price Index MoM in Canada is expected to be -0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada New Housing Price Index MoM is projected to trend around 0.50 percent in 2025 and 0.80 percent in 2026, according to our econometric models.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-10-25 12:30 PM
New Housing Price Index MoM
Sep 0% 0% 0.2% 0.1%
2024-11-22 01:30 PM
New Housing Price Index MoM
Oct -0.4% 0% 0.1% 0.1%
2024-12-20 01:30 PM
New Housing Price Index MoM
Nov


Related Last Previous Unit Reference
Average House Prices 716800.00 717300.00 CAD Oct 2024
Building Permits 12968359.00 11630204.00 CAD Thousand Sep 2024
Building Permits MoM 11.50 -6.30 percent Sep 2024
Home Ownership Rate 66.50 66.80 percent Dec 2021
Home Sales 43294.00 40191.00 units Oct 2024
New Housing Price Index MoM -0.40 0.00 percent Oct 2024
New Housing Price Index YoY -0.20 0.20 percent Oct 2024
Housing Index 125.00 125.00 points Sep 2024
Housing Starts 240.80 223.40 Thousand units Oct 2024
Price to Rent Ratio 134.57 136.00 Sep 2024
Residential Property Prices -2.21 0.99 Percent Jun 2024

Canada New Housing Price Index MoM
In Canada, New Housing Price Index (NHPI) measures changes over time in the contractors' selling prices of new residential houses, where specifications of each house remain the same between two consecutive periods.
Actual Previous Highest Lowest Dates Unit Frequency
-0.40 0.00 3.10 -1.90 1981 - 2024 percent Monthly
NSA


News Stream
Canada New Home Prices Drop the Most Since 2009
New home prices in Canada dropped by 0.4% in October 2024, following two months of no change and against expectations of a 0.1% increase, marking the sharpest monthly decline since April 2009. Prices decreased in 9 out of 27 metropolitan areas, with the largest drops recorded in Toronto (-1.2%), Vancouver (-0.6%), and Windsor (-0.6%). In contrast, the biggest increases were seen in Winnipeg (+0.4%) and Calgary (+0.2%). Compared to last year, new home prices fell 0.2% in October, following a 0.2% increase in the previous month.
2024-11-22
Canada New Home Prices Unchanged for Second Month
New home prices in Canada were unchanged for the second consecutive month in September 2024, against market expectations of a 0.2% increase. Prices remained unchanged in 12 of the 27 metropolitan areas surveyed. Among key changes, prices rose in Quebec (+1.1%), Kelowna (+0.6%), Montreal (+0.4%), and Calgary (+0.3%), while it declined in Guelph (-0.5%), St. Catharines–Niagara (-0.3%), Vancouver (-0.2%), and Edmonton (-0.2%).
2024-10-25
Canada New Home Prices Unchanged in August
New home prices in Canada remained unchanged month-over-month in August 2024, against market forecasts of a 0.1% increase, following a 0.2% rise in the previous month, Prices were unchanged in 13 of the 27 census metropolitan areas. However, among notable changes, prices rose in Regina (+0.3%), Oshawa (+0.2%) and Toronto (+0.1%), while it decreased in Calgary (-0.4%), St. Catharines–Niagara (-0.3%) and Montréal (-0.1%).
2024-09-23