Canadian new home prices fell 2% from a year earlier in September, extending the annual decline to 18 straight months. The month-over-month decrease was 0.2%, after a 0.1% decline in the prior month, Statistics Canada reported.
The house-only component fell 0.2% month over month and 2.6% year over year. Prices for the land component eased 0.1% from the prior month and were down 0.9% from a year earlier.
Regional results diverged: new home prices in Toronto fell 0.9% month over month and 4.9% year over year, while prices in Calgary declined 0.2% month over month and were unchanged annually. Prices in Vancouver and Ottawa each rose 0.7% from the prior month; Vancouver was down 2.1% year over year, while Ottawa was up 1%. Edmonton prices increased 0.2% month over month and fell 0.8% annually. Prices in Montréal and Winnipeg were unchanged month over month, with annual gains of 1.2% and 2.1%, respectively.