- Prior month -0.1%
- Canada new housing price index 0.1% versus -0.1% last month
- index rises to 124.5 from 124.4 last month. A year ago, the index was at 124.4.
The gain this month reversed the decline last month
The New Housing Price Index (NHPI) measures changes over time in the selling prices of new residential houses. The prices are those agreed upon between the contractor and the buyer at the time the contract is signed. The detailed specifications for each new house remain the same between two consecutive periods.
The prices collected from builders and included in the index are market selling prices less value-added taxes, such as the federal Goods and Services Tax and the provincial harmonized sales tax.
The survey covers the following dwelling types: new single homes, semi-detached homes and townhomes
This article was written by Greg Michalowski at www.forexlive.com.