{"id":6456,"date":"2017-07-20T10:10:56","date_gmt":"2017-07-20T17:10:56","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=6456"},"modified":"2017-07-18T22:07:17","modified_gmt":"2017-07-19T05:07:17","slug":"new-home-prices-in-canada-crept-up","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2017\/07\/new-home-prices-in-canada-crept-up\/","title":{"rendered":"New Home Prices in Canada Crept Up"},"content":{"rendered":"<p style=\"text-align: justify;\">New house prices in Canada increased by 0.7% month on month in May, led by markets in Toronto and Vancouver, the latest official figures show.<\/p>\n<p style=\"text-align: justify;\">Toronto was the largest contributor to the national gain, with new home prices rising 1.1% from April to May, according to the data from Statistics Canada.<\/p>\n<p style=\"text-align: justify;\">The report points out that builders have linked higher prices to market conditions, a shortage of developed land and higher construction costs.<\/p>\n<p style=\"text-align: justify;\">Prices for new houses in Vancouver rose for a third consecutive month, up 2.2% in May and the largest increase since May 2007. Builders cited favourable market conditions as the main reason for the gain.<\/p>\n<p style=\"text-align: justify;\">New home prices also increased in other locations, most notably a rise of 1.7% in Guelph, an increase of 1.5% in London and up 0.9% in St. Catharines\u2013Niagara prices were down in five metropolitan areas and unchanged in nine.<\/p>\n<p style=\"text-align: justify;\">Year on year new house prices in Canada have increased by 3.8% in the 12 months to the end of May 2017, led by a 9% increase in Toronto.<\/p>\n<p style=\"text-align: justify;\">Other notable year on year gains were recorded in the Southern Ontario communities of St. Catharines\u2013Niagara, up 7.2%, Kitchener\u2013Cambridge\u2013Waterloo up 6.5% and London also up 6.5%.<\/p>\n<p style=\"text-align: justify;\">Prices were down in six metropolitan areas, with Calgary posting the largest decrease of 0.9%.<\/p>\n<p><a href=\"http:\/\/www.propertywire.com\/news\/north-america\/new-home-prices-canada-crept-month-month-may-2017\/\" target=\"_blank\" rel=\"noopener\">New Home Prices in Canada Crept Up Month on Month in May 2017<\/a> by Property Wire<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New house prices in Canada increased by 0.7% month on month in May, led by markets in Toronto and Vancouver, the latest official figures show. Toronto was the largest contributor &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2017\/07\/new-home-prices-in-canada-crept-up\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-6456","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>New Home Prices in Canada Crept Up &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2017\/07\/new-home-prices-in-canada-crept-up\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"New Home Prices in Canada Crept Up &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"New house prices in Canada increased by 0.7% month on month in May, led by markets in Toronto and Vancouver, the latest official figures show. 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