National overview
In March, new home prices for Canada rose 1.2% compared with February. Prices were up in 18 of the 27 census metropolitan areas (CMAs) surveyed and unchanged in 9 from February to March.
Construction costs continue to rise throughout Canada
Most new home builders surveyed continued to cite rising construction costs as the main reason for price increases. Softwood lumber prices were still rising (+8.3%) on a monthly basis in February. At the same time, prices for energy and petroleum products rose by 10.0% in January and 8.5% in February, as reflected in higher transportation costs and in higher operational costs for heavy machinery.
Contact information
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