National new home prices edge up in July
The national index edged up by 0.2% month over month in July. Prices were up in 10 of the 27 census metropolitan areas (CMAs) surveyed, while they were unchanged in 13 and declined in the remaining 4 CMAs.
The largest month-over-month increases in July were recorded in Calgary, Edmonton, Kelowna and Regina (each up 0.8%). The rapidly growing population continued powering demand for new housing. In the second quarter of 2024, Alberta (+1.0%) had the largest quarterly population growth among the provinces, while British Columbia (+0.7%) had the fourth largest.
The largest monthly price declines in new home prices in July were recorded in Kitchener–Cambridge–Waterloo (-0.5%) and Ottawa (-0.2%).
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