Canada new home prices unchanged in April, biggest markets show weakness

Construction workers build a new house in Calgary
FILE PHOTO: Construction workers build a new house in Calgary, Alberta, April 7, 2015. REUTERS/Todd Korol

June 13, 2019

OTTAWA (Reuters) – New home prices in Canada were flat in April for a third month in a row amid weakness in Toronto and Vancouver, the two biggest markets, Statistics Canada said on Thursday.

Analysts in a Reuters poll had predicted no change in home prices from March. Builders in 19 of the 27 metropolitan areas reported flat or lower prices.

In Toronto – which accounts for 29.06% of the entire market – prices dipped by 0.1% while Vancouver prices edged down 0.2%.

The new housing price index excludes apartments and condominiums, which the government says are a particular cause for concern and which account for one-third of new housing.

(Reporting by David Ljunggren; Editing by Bernadette Baum)

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