New home price growth cools in April as residential construction activity stays high
The price of a new home in Canada rose again in April, but to a lesser extent compared to previous months.
Last month, new home prices “showed some signs of cooling,” as they increased 0.3 per cent month-over-month according to the April New Housing Price Index (NHPI) published by Statistics Canada. This is a slowdown from the average increase of 1.1 per cent that was recorded during the first three months of 2022.
On a yearly basis, new home prices increased 9.4 per cent in April, the smallest growth rate since March 2021.
The NHPI monitors changes in selling prices for new residential homes over time, and is applicable to new single-family homes, semi-detached residences and townhomes in Canada.
Read More: https://www.livabl.com/2022/05/new-home-price-cools-april.html