Calgary CMA new home prices fall in February

But increased from a year ago

CALGARY — New home prices in the Calgary census metropolitan area fell in February from the previous month.

In releasing its New Housing Price Index on Tuesday, Statistics Canada said new house prices in February were down 0.4 per cent in the Calgary CMA. However, they were also up by 0.4 per cent when compared with February 2010.

At the national level, the federal agency said prices were up by 0.4 per cent on a month-over-month basis and by 2.1 per cent on an annual basis.

Between January and February, prices increased the most in Regina (1.8 per cent) followed by Kitchener–Cambridge–Waterloo (1.7 per cent), Charlottetown (1.5 per cent), and Edmonton (1.1 per cent).

Price decreases were recorded in Calgary, Windsor (0.3 per cent), Ottawa–Gatineau (0.2 per cent) and Saint John, Fredericton and Moncton (0.1 per cent).

“In Calgary, builders offered promotional prices and bonus upgrade packages in order to stimulate sales,” said Statistics Canada.

The largest year-over-year increase continued to be in St. John’s (6.2 per cent).

Among the 21 metropolitan regions surveyed, five registered 12-month declines in February: Windsor (4.0 per cent), Greater Sudbury and Thunder Bay (1.4 per cent), Victoria (1.0 per cent), St. Catharine’s–Niagara (0.8 per cent) and Vancouver (0.2 per cent).