The New Housing Price Index (NHPI) increased 0.1% in August following a 0.1% decrease in July.
The top contributors to the NHPI monthly increase in August were Toronto and Oshawa, Hamilton and Montréal.
Between July and August, prices increased the most in Hamilton (+0.9%), followed by Windsor and Winnipeg (both up 0.4%).
In Hamilton, the increase was due in part to builders moving to new areas with higher land development fees.
In Winnipeg, prices rose as a result of higher lumber and steel costs, while in Windsor, some builders reported higher operating costs.
In August, prices remained unchanged in 10 of 21 metropolitian areas.
Saint John, Fredericton and Moncton, Ottawa–Gatineau, Calgary as well as Greater Sudbury and Thunder Bay all recorded decreases of 0.1%.
In Saint John, Fredericton and Moncton as well as in Ottawa–Gatineau, builders recorded lower negotiated selling prices in August.
Builders in Calgary as well as in Greater Sudbury and Thunder Bay reduced their prices to remain competitive.
Year over year, the NHPI was up 2.9% in August following an identical increase in July.
The main contributors to the year-over-year increase of the NHPI in August were Toronto and Oshawa, Vancouver and Montréal.
The largest year-over-year increase was recorded in Regina (+6.1%), followed by Winnipeg (+5.3%) and St. John's (+4.9%).
Compared with August 2009, contractors' selling prices were also higher in Ottawa–Gatineau (+4.5%), Vancouver (+4.4%) and Saskatoon (+3.8%).
Among the 21 metropolitan areas surveyed, 4 registered 12-month declines in August: Charlottetown (-2.2%), followed by Greater Sudbury and Thunder Bay (-1.8%), Windsor (-1.3%) and Victoria (-0.4%).