New housing prices climb in April

Thu Jun 9, 2011 2:44pm EDT
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OTTAWA (Reuters) - New home prices in Canada climbed by a steeper-than-expected 0.3 percent in April after remaining flat in March, according to Statistics Canada data released on Thursday.

Analysts surveyed by Reuters had expected, on average, a price gain of 0.1 percent in the month.

Prices rose in 10 metropolitan regions, decreased in four and were unchanged in seven.

The largest increases were reported in the Toronto and Oshawa region as well as in Ottawa-Gatineau, Statscan said.

Year on year, prices were 1.9 percent higher, unchanged from March.

(Reporting by Howaida Sorour and Louise Egan, Editing by Chizu Nomiyama)

<p>A builder works on the the roof of a new home under construction in the Montreal suburb of Brossard August 10, 2010. REUTERS/Shaun Best</p>