Prices of new homes in Canada rose by 1.9 percent from the previous month in February of 2021, the most since February 1989. Builders in most cities linked the spike to higher construction costs as well as to an active housing market. Record-low interest rates remained a key driver for housing activity. Furthermore, buyers, including first-time buyers and those looking to upgrade their living arrangements, also added pressure to housing prices in an already low-supply market. New house prices were up in 22 of the 27 census metropolitan areas. Nationally, new house prices rose 7.0 percent year over year, the largest increase since July 2007. source: Statistics Canada
Housing Index in Canada averaged 68.92 points from 1981 until 2021, reaching an all time high of 111.10 points in February of 2021 and a record low of 37.70 points in May of 1983. This page provides - Canada New Housing Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada New Housing Price Index - data, historical chart, forecasts and calendar of releases - was last updated on April of 2021.
Housing Index in Canada is expected to be 111.60 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Housing Index in Canada to stand at 113.00 in 12 months time. In the long-term, the Canada New Housing Price Index is projected to trend around 115.00 points in 2022 and 118.00 points in 2023, according to our econometric models.