: m0 R- e9 b( s) b+ m$ xCalgary New Home Prices Post Largest Increase Since 20070 n o% c- o2 q/ t2 H( A; G
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Calgary 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. ; z$ Y$ [5 F% S( A " N5 ^5 _8 z; v0 YYear-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. 0 v. G0 R+ j+ t9 T( O' m6 g$ {0 [* w1 S7 l/ I
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. # h$ \; y3 J8 V