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CA New Housing Price Index, October 2024
On a monthly basis, the New Housing Price Index (NHPI) fell 0.4% in October, the largest monthly decline since April 2009. However, the picture was mixed across the country, as prices were down in 9 out of 27 census metropolitan areas (CMAs) surveyed, but unchanged in 11 CMAs and up in the remaining 7. In October, the largest monthly declines were observed in Canada's largest markets of Toronto (-1.2%) and Vancouver (-0.6%). Windsor also reported a decline of 0.6% in the month. Builders attributed the price declines in these markets to weak market conditions. Toronto and Vancouver builders offered cash incentives and ... (full story)