Canada’s new home price index rose in May led by Calgary and cities in Ontario, the government statistics agency said.
The 0.1 percent national gain was led by a 0.9 percent increase in Calgary, Statistics Canada said today in Ottawa. Prices also rose 0.6 percent in the Ontario cities of St. Catharines-Niagara, Sudbury and Thunder Bay.
Economists predicted the index would rise 0.2 percent on the month, according to the median estimate in a Bloomberg survey with nine responses. From a year earlier, new home prices increased 1.8 percent in May.
Other reports this week have shown housing-market strength as officials warn consumers not to become overextended with mortgage debt. Building permits rose a fifth month in May while housing starts fell less than economists predicted in June.
Today’s data showed prices in Toronto, the nation’s largest city by population, increased 0.2 percent. Montreal, the second-largest, saw house prices climb 0.3 percent while those in Vancouver, the third-largest, fell 0.2 percent.
bloomberg.com
The 0.1 percent national gain was led by a 0.9 percent increase in Calgary, Statistics Canada said today in Ottawa. Prices also rose 0.6 percent in the Ontario cities of St. Catharines-Niagara, Sudbury and Thunder Bay.
Economists predicted the index would rise 0.2 percent on the month, according to the median estimate in a Bloomberg survey with nine responses. From a year earlier, new home prices increased 1.8 percent in May.
Other reports this week have shown housing-market strength as officials warn consumers not to become overextended with mortgage debt. Building permits rose a fifth month in May while housing starts fell less than economists predicted in June.
Today’s data showed prices in Toronto, the nation’s largest city by population, increased 0.2 percent. Montreal, the second-largest, saw house prices climb 0.3 percent while those in Vancouver, the third-largest, fell 0.2 percent.
bloomberg.com
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