New Housing Price Increase Decelerating?

Housing Price Increase Drop

That is a confusing way of saying that the increase in new house prices is slowing down. September 2006 to September ’07 new housing prices increase by 6.2% (down from 6.5% August to August).

Housing prices increased the most where? Can you guess? Starts with a “P”? Yes, the Prairies, where housing prices continue to increase at a startling rate. The praries in general was about 15% however in Alberta the story was:

The Edmonton market remained strong with a 26.6% increase. New housing prices rose 5.9% in Calgary in September, the only Prairie city with a year-over-year increase below 10%. This occurred despite higher development costs, as new lots were released into the market.

How do people buy new houses these day?

New Housing Price Indexes
	September 2007	September 2006 to September 2007	August to September 2007
	(1997=100)	% change
Canada total	155.5	6.2	0.3
House only	165.6	5.8	0.3
Land only	135.9	7.3	0.2
St. John’s	138.9	5.7	0.8
Halifax	140.2	7.3	0.3
Charlottetown	118.1	0.6	0.3
Saint John, Fredericton and Moncton	114.5	0.8	0.1
Québec	148.0	3.9	0.0
Montréal	155.7	4.6	0.3
Ottawa–Gatineau	162.3	1.1	0.2
Toronto and Oshawa	142.1	2.7	0.3
Hamilton	148.9	3.3	0.3
St. Catharines–Niagara	151.7	4.2	0.0
Kitchener	139.7	1.9	0.0
London	139.3	2.8	0.7
Windsor	102.6	-3.2	-0.4
Greater Sudbury and Thunder Bay	107.3	5.1	0.9
Winnipeg	170.3	16.2	0.8
Regina	202.5	29.6	0.3
Saskatoon	212.5	47.0	0.2
Calgary	250.7	5.9	0.7
Edmonton	248.4	26.6	0.0
Vancouver	122.4	6.1	0.0
Victoria	118.4	0.2	-0.3
Note: View the census subdivisions that comprise the metropolitan areas online.