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New home prices weaken in Canada
5 {7 w0 B2 z: V0 M8 v: u. d6 ?2 b% wCanwest News Service3 w# ]+ ?' K( g& W( H' _7 R- P
Published: 7:48 am
1 @! |. B2 n* ROTTAWA - Prices for new homes in Canada rose by 5.2 per cent in April from a year earlier, the slowest pace in more than two and a half years as a weakening Alberta market continued to pull down the national average, Statistics Canada said Wednesday.
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April's rate was down from a 6.1 per cent year-on-year increase in March, the federal agency said. On a monthly basis, prices were unchanged in April from March.5 ~5 j8 l% `1 j8 i1 H7 Q' X7 q/ {
3 z4 s: @6 K% z# n7 X"This was the third consecutive month in which the increase has decelerated, and the slowest rate of growth since September 2005, when year-over-year prices rose by 4.9 per cent," it said.9 _5 Z( g/ a8 L* t
) _9 r+ f S" S+ [( h3 v% [4 NIn contrast to strong markets in Saskatchewan and parts of Atlantic Canada, home prices in oil-rich Alberta showed more signs of cooling. " l& O3 k' u9 A' p( k/ d& Q) A
- j5 ?: U, N* p# y% k; s4 a"Edmonton and Calgary continued to experience slow market conditions," Statistics Canada said. "Competition among builders has resulted in lower prices being offered to prospective homebuyers."
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Prices in Calgary edged up 2.5 per cent in April from a year earlier, compared to a 5.3 per cent year-over-year increase in March.; I& I$ c! O) y7 C ]
) Q# G: o% l/ v% E5 W x; zIn Edmonton, the year-on-year rate slowed to 8.1 per cent - the ninth straight month of decelerated growth. # y8 v1 h b: W
L' B* X1 Q5 t* T. n ?Meanwhile, the Saskatchewan housing market continued to heat up in April. Prices in Saskatoon led the country for the 12th straight month, jumping 43.7 per cent from a year earlier - but down slightly from a 46.2 per cent year-on-year gain in March.: \: H( s) L" p
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Prices in Regina were up 34 per cent in April from the same time in 2007, compared to a 27.8 per year-on-year increase in March.
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In Newfoundland and Labrador "a strengthening economy, coupled with increased material and labour costs, has contributed to record increases," Statistics Canada said.
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s$ H) P- S# K% iPrices in St. John's rose 16.3 per cent in April, up from the year-over-year increase of 12 per cent in March.. A% W' ]! X5 U" A
s5 S9 s3 ^$ [" }9 U: @; _4 LNova Scotia also saw strong gains, with prices in Halifax increasing 11.3 per cent from a year earlier, although that was down slightly from a record year-on-year gain 12.8 per cent in March./ `6 v2 ^( y; T7 c; |
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"The report adds to the growing body of evidence that indicates that the Canadian housing sector may be coming off the boil," said Millan Mulraine, economics strategist at TD Securities.# d, Q, S) i1 \3 a4 L# o
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"Similar behaviour has also been observed in the price of existing homes. However, it is important to note that the Canadian housing sector remains in reasonable shape and a U.S.-style correction in home prices remains highly unlikely."6 r( {( p" F2 s
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, f" W) x6 P( s0 E© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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