New Housing Price Index Unchanged in August 2024
The New Housing Price Index (NHPI) for Canada remained unchanged in August 2024 compared to the previous month. This information was released by Statistics Canada on September 23, 2024. The NHPI measures changes over time in the selling prices of new residential houses, with prices agreed upon between the contractor and the buyer at the time the contract is signed. The index covers new single homes, semi-detached homes, and townhouses.
In Ontario, the NHPI also showed no change for August 2024. Across Canada, the index increased in 10 census metropolitan areas (CMAs), remained unchanged in 3, and declined in 14. The largest year-over-year increases were observed in Calgary (+4.1%), Trois-Rivières (+3.1%), and Edmonton (+2.1%). The largest year-over-year declines were reported in Kitchener–Cambridge–Waterloo and Ottawa (each declined by 2.8%), followed by Sherbrooke (-1.7%).
The NHPI is not seasonally adjusted and is available at national and provincial levels, as well as for 27 CMAs. The next release for the NHPI will be on October 25, 2024.
