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Calgary New Home Prices Post Largest Increase Since 2007 & Z- a. W4 B/ n 3 V2 T5 |9 g' [7 }2 X3 z1 TCalgary new home prices in January increased at over 4x the annual pace of the rest of Canada according to data released by Statistics Canada today.; { E0 y1 m$ A
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Year-over-year, Calgary saw a 7.0% increase, its highest annual rise since July 2007. By contrast, the New Housing Price Index for Canada overall rose by 1.5% y/y.. T( T8 T% [3 j+ X& I+ [
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Between December and January, Calgary prices were up 1.3%. Builders reported that higher material and labour costs as well as market conditions were the primary reasons for the increase, the largest in the region since April 2007. 6 D( ^ R4 l5 b5 i8 z% R