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New Housing Price Index, July 2018
Nationally, new home prices were up for a second consecutive month in July. Builders in 15 of the 27 census metropolitan areas (CMAs) surveyed reported higher prices in July, pushing the Canada-level index up 0.1%. The largest gain was in London (+0.5%), where builders reported higher construction costs and favourable market conditions as the primary reasons for the increase. This marked the ninth consecutive monthly price rise in this CMA. According to the Canada Mortgage and Housing Corporation, single-family home completions in London grew 41.5% year to date in July compared with the same period in 2017. ... (full story)