New home prices for Canada rose by 0.5% from a month earlier in May of 2022, following a 0.3% increase in the prior month. Prices were up in 14 of the 27 census metropolitan areas surveyed and unchanged in the other half, due to sustained increases in construction costs. However, the increasing mortgage rates seem to have had a larger impact on the resale market than on the new build market, reducing demand and prices of resale properties. Halifax led gains with a 2.4% increase, followed by St. Catharines–Niagara (+1.7%), Windsor (+1.7%) and Calgary (+1.4%). Year-on-year, new home prices advanced 8.4% in May, the smallest increase since March 2021. source: Statistics Canada
House Price Index MoM in Canada averaged 0.24 percent from 1981 until 2022, 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 July of 2022.