Canada New Housing Prices Edge Down in July

Canada’s new housing prices fell 0.1% month-on-month in July 2026, matching the pace of decline in June and missing market expectations for a flat reading. The decline remained the smallest since prices last increased in February, as land prices (-0.2% vs -0.4%) and house-only prices (-0.1% vs -0.3%) declined, albeit at a slower pace than the previous month. On an annual basis, new housing prices fell 2.3%, unchanged from June.

New housing prices in Canada fell 0.1% month-over-month in June 2026, following a 0.3% decline in May. The drop was smaller than the 0.2% decline expected by markets and marked the mildest monthly decrease since prices last increased in February. The decline was driven by a 0.3% fall in land prices, while house-only prices rose 0.1%. On an annual basis, new housing prices declined 2.3%, easing slightly from a 2.4% drop in May.

New housing prices in Canada fell 0.3% month-on-month in May 2026, after a 0.4% decrease in April and below expectations of a 0.1% decline. House-only prices fell 0.4%, easing from a 0.6% decline in the previous month, while land-only prices fell 0.3%, accelerating from a 0.1% decline. On an annual basis, new housing prices fell 2.4% in May, up from a 2.3% decline in the prior month, and reaching the largest decline since September 2009.