Nationally, new home prices increased 0.8% in November—continuing the string of monthly increases since May 2020. Prices were up in 16 of the 27 census metropolitan areas (CMAs) surveyed, unchanged in 9, and down in 2. The largest price increases for new homes were in London (+2.8%), Kitchener–Cambridge–Waterloo (+1.9%) and Toronto (+1.4%). In all three regions, a continuing high level of sales activity, record low levels of inventories in the resale sector, combined with higher construction costs in the new build sector, contributed to the rise of home prices in both sectors. Following an 11.9% increase in October, ... (full story)