Canadian new home prices are flat in March
The national index was unchanged on a monthly basis in March. Prices were unchanged in 12 of the 27 census metropolitan areas (CMAs) surveyed, declined in 6 and rose in the remaining 9 CMAs.
The largest monthly declines in March were captured in Ottawa (-0.9%), followed by London (-0.3%) and Kitchener–Cambridge–Waterloo (-0.3%), where builders linked the decrease to weak market conditions.
The largest month-over-month increases in March were reported in Saint John, Fredericton, and Moncton (+0.7%), and in Victoria (+0.5%) and Calgary (+0.5%). This was the first monthly increase recorded for the combined region of Saint John, Fredericton and Moncton since April 2022, and for the CMA of Victoria since March 2022.
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