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New Housing Price Index, January 2020
New house prices were unchanged in January, following a 0.2% rise in December. In January, prices for new houses increased the most in Ottawa (+1.4%). Builders associated the gain with favourable market conditions and higher construction costs. The persistent housing supply shortage continued to drive up prices in the region. The Ottawa Real Estate Board reported that the number of new listings was 34.5% lower than the 10-year average for the month of January. New house prices were up in Greater Sudbury (+1.1%) and Kelowna (+0.6%) because of higher construction costs. In contrast, unfavourable market conditions drove ... (full story)