Market conditions in Vancouver contributed to ongoing strength in that census metropolitan area (CMA), and helped drive new home prices up 0.4% nationally in July. New house prices in Vancouver continued their upward trend, rising 2.0% from June to July. Prices have grown 7.7% in the CMA since the start of the year due to strong demand for housing. First-time home buyers have been eligible for a loan of up to 5% (to a maximum of $37,500) of a home's purchase price under the B.C. Home Partnership program introduced in January. Toronto reported no change in new home prices for the second consecutive month. With the ... (full story)