New home prices in Canada rose 0.1 per cent in December, short of the 0.2 per cent increase predicted by analysts in a Reuters poll. Four of the 21 cities surveyed by Statistics Canada saw house prices rise, including Halifax, Toronto and Oshawa. However, prices fell in eight other cities. The biggest decreases were recorded in Windsor, Montreal and Quebec City. The housing market has cooled since the Bank of Canada raised interest rates and the government tightened mortgage rules.
Canadian home prices are on the rise—but just barely
Increase not as big as analysts expected
FILED UNDER: economy