A run down of what's going on in the market and the company.

Tuesday, April 13, 2010

New Housing Price Index rises in February, Statistics Canada reports

THE CANADIAN PRESS 2010/04/13
OTTAWA - The New Housing Price Index rose 0.1 per cent in February following a 0.4 per cent increase in January.

Statistics Canada reports prices rose in 14 of 21 metropolitan areas between January and February. Prices increased the most in Regina (up two per cent), followed by Winnipeg and London (both up 1.9).

Toronto and Oshawa (down 0.7 per cent) as well as Charlottetown (down 0.5) were the only metropolitan areas to register monthly decreases in February.

Year over year, the index was up 0.9 per cent in February following a 0.1 per cent increase in January.

The largest year-over-year increase was recorded in St. John's, N.L. (up 5.5 per cent), followed by Winnipeg (4.1) and Quebec City (3.5).

Higher residential land values were the primary reason for the increases in all three metropolitan areas.

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