Statistics Canada reported this week that Canada’s new housing price index decreased nationally in July by 0.1%. It was the first price decrease for new homes in 13 months.
The four cities with the greatest price drops were Vancouver, Sudbury, London and Thunder Bay. In fact of the 21 urban areas analyzed, only three saw price increases in new homes. The region with the largest increase in new home prices was Kitchener Waterloo Cambridge with an increase of .6%.