June new home prices up by 0.3 percent

Thu Aug 11, 2011 8:42am EDT
 
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OTTAWA (Reuters) - New home prices in Canada climbed 0.3 percent in June following a 0.4 percent advance in May, an increase which matched analysts' expectations, Statistics Canada data indicated on Thursday.

Prices rose in eight metropolitan regions, fell in three and were flat in 10.

The Toronto and Oshawa region contributed the most to the June increase with prices jumping by 0.8 percent on good market conditions. Winnipeg was just behind with a 0.7 percent advance prompted by higher costs for materials.

The most significant price decline was in Calgary, where prices dropped by 0.3 percent as some builders offered promotional pricing to generate sales.

Year on year, prices were 2.1 percent higher in June, the 18th consecutive rise.

(Reporting by David Ljunggren, Editing by Chizu Nomiyama)

 
<p>A real estate sign is seen on front of a house in Toronto June 19, 2009. REUTERS/Chris Roussakis</p>