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Canadian new home prices rose for a second month in December, but remain lower on an annual basis, according to official data released Thursday.
Statistics Canada's New Housing Price Index rose 0.4% in December, the same increase as reported in November, and in line with estimates.
Between November and December, prices rose the most in Ottawa-Gatineau (+0.8%), followed by St. John's, Toronto and Oshawa, as well as Vancouver, which all registered 0.7% increases.
Year over year, the New Housing Price Index was down 0.9% in December, compared with the 1.4% decline registered in November. Western Canada remained the main contributor to the decrease in the total new housing price index.
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