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New Housing Price Index, May 2023
The national index increased 0.1% month over month in May, its first increase since August 2022. Prices were up in 6 of the 27 census metropolitan areas (CMAs) surveyed in May 2023, down in 8 and unchanged in the remaining 13 CMAs. In May, new home prices grew the most month over month in the Québec (+0.9%), Calgary (+0.8%) and Kelowna (+0.6%) CMAs, with builders noting increased construction costs as the reason for the price growth. This was the second consecutive month that Québec recorded the largest increase in prices among the CMAs surveyed, while both Calgary and Kelowna observed their largest ... (full story)