New home prices in Canada rose by 0.1% over a month in November 2024, following a 0.4% decrease in October and matching market forecasts. Prices rose in 8 of the 27 census metropolitan areas (CMAs) surveyed, with the largest monthly gains recorded in Québec (+1.8%) and Ottawa (+0.4%). More single-family home sales and fewer homes were listed on the market, thus putting upward pressure on the overall house prices, according to the Quebec Professional Association of Real Estate Brokers. The largest monthly declines in November occured in Oshawa (-0.3%) and London (-0.3%), where builders link the decline to weaker market conditions. Compared to a year ago, new home prices increased by 0.2% in November, rebounding from a similar decline in the previous month. source: Statistics Canada
House Price Index MoM in Canada increased to 0.10 percent in November from -0.40 percent in October of 2024. House Price Index MoM in Canada averaged 0.23 percent from 1981 until 2024, 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 January of 2025.
House Price Index MoM in Canada increased to 0.10 percent in November from -0.40 percent in October of 2024. House Price Index MoM in Canada is expected to be -0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada New Housing Price Index MoM is projected to trend around 0.50 percent in 2025 and 0.80 percent in 2026, according to our econometric models.