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New home prices drop by 0.2 percent in June
& _% k6 s) J( u. \: y( NWed Aug 12, 8:47 AM
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(Reuters)OTTAWA (Reuters) - The price of new homes in Canada fell by 0.2 percent in June from May and by 3.3 percent from June 2008, the largest year-on-year decline in almost 18 years, Statistics Canada said on Wednesday.5 \* L1 R- ?$ b5 ?& r8 f9 }
8 D2 Z* |: H) g: jMarket analysts, on average, expected new housing prices to remain unchanged from May. It was the ninth consecutive month-on-month drop.5 ]0 g+ E7 H" V1 r
9 W3 E+ F7 ^' P* [5 j& hThe year-on-year decline was the largest since a 3.5 percent fall recorded in November 1991.4 G/ x' N. Y% R" a4 \& e
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Prices rose in six of the 21 metropolitan areas, fell in six and were unchanged in another nine in June. Western cities, which have seen large increases in recent years, continued their recent pattern of falls.6 ?' ?3 C: m; G' u& z
9 m* d4 t5 @0 ?" xEdmonton recorded a 0.8 percent drop, while Calgary posted a 0.1 percent decrease. Victoria and Vancouver saw prices fall by 0.5 and 0.9 percent respectively. |
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