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The New Housing Price Index (NHPI) rose 0.1% in June, following a 0.7% increase in May. The advance, driven mainly by new housing prices in Toronto and Oshawa and Vancouver, was moderated by decreases in Calgary and Edmonton.
The combined region of Toronto and Oshawa (+0.5%) was the top contributor to the national gain among the census metropolitan areas covered by the survey. Builders reported higher labour costs, market conditions and new list prices as the reasons for the increase. New house prices in Vancouver advanced 0.4%, reflecting market conditions.
The largest monthly price gains in June were observed in St. Catharines-Niagara (+1.2%) and Windsor (+0.9%). Builders in St. Catharines-Niagara cited market conditions as the main reason for the rise, the eighth consecutive monthly increase. Builders in Windsor reported higher material costs and land development fees.
Prices were unchanged in 8 of the 21 metropolitan areas surveyed.
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