New home prices declined in June
The national index declined on a month-over-month basis in June (-0.2%), down for the third consecutive month. Prices were down in 12 of the 27 census metropolitan areas (CMAs) surveyed, while prices were unchanged in 10 CMAs and up in the remaining 5.
The largest month-over-month decrease in June was recorded in Greater Sudbury (-0.9%), followed by Calgary (-0.8%). Builders reported market slowdowns where buyers were able to negotiate lower prices.
The largest monthly increase in June was recorded in Charlottetown (+1.4%), followed by Victoria (+0.7%).
Chart 1: New Housing Price Index
Chart 2: New house prices decline at the national level
Description - Chart 2
Data table: New house prices decline at the national level
Source: Table 18-10-0205-02.
New Housing Price Index, year-to-date change
Nationally, the New Housing Price Index (NHPI) declined by 0.8% for the year-to-date. The NHPI was stable during the first three months of 2025, followed by a downward trend which began in the second quarter of the year.
The fastest year-to-date new home price decline was observed in London (-2.3%), followed by Edmonton (-1.9%). In early 2025, home prices in these CMAs trended downward due to uncertainties related to tariffs imposed on Canada by the United States and tariff countermeasures imposed on the United States by Canada. The resale market also saw decreases in London, according to the Canadian Real Estate Association (CREA), with the MLS® Home Price Index benchmark price down 4.5% in London for single-family homes since January 2025. Statistics Canada also reported that the unemployment rate in London was 7.2% in June, up 0.2 percentage points since the beginning of the year. In contrast, the national unemployment rate was 6.9% in June.
Despite the economic uncertainty impacting multiple CMAs, new home prices increased the most in Halifax (+4.6%) and Québec (+3.9%) on the year-to-date basis. According to the New Housing Market Report, 2024: Experimental estimates, the increased construction cost of a single-detached house combined with supply shortages (190 new dwellings completed per 1,000 persons of population growth), contributed to higher new home prices in Halifax. The shortage of supply also drove the home prices upward in Québec. According to the Canada Mortgage and Housing Corporation, inventory of new single-family homes completed and unsold dropped by 39.6% in Québec in June compared to January 2025. On the resale market, the Quebec Professional Association of Real Estate Brokers reported a 27% decrease in active listings and an 18% increase in the median price for single-family homes during the same period.
Note to readers
The New Housing Price Index (NHPI) measures changes over time in the selling prices of new residential houses. The prices are those agreed upon between the contractor and the buyer at the time the contract is signed. The detailed specifications for each new house remain the same between two consecutive periods.
The prices collected from builders and included in the index are market selling prices less value-added taxes, such as the federal Goods and Services Tax and the provincial harmonized sales tax.
The survey covers the following dwelling types: new single homes, semi-detached homes and townhomes (row or garden homes). The index is available at the national and provincial levels and for 27 census metropolitan areas (CMAs).
The index is not subject to revision and is not seasonally adjusted.
Annual weights have been updated with the publication of data for the January 2025 reference period.
Next release
The New Housing Price Index for July will be released on August 20.
Contact information
For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; infostats@statcan.gc.ca) or Media Relations (statcan.mediahotline-ligneinfomedias.statcan@statcan.gc.ca).