' @; Z) \) j* v/ Z# h; YCalgary New Home Prices Post Largest Increase Since 2007 9 r* C Z# O% V% @( h2 a5 ^' D/ m" A y5 ^
Calgary new home prices in January increased at over 4x the annual pace of the rest of Canada according to data released by Statistics Canada today.) W- ~) o; m7 H/ z1 C0 S$ V
7 d7 O$ w6 a# Z2 XYear-over-year, Calgary saw a 7.0% increase, its highest annual rise since July 2007. By contrast, the New Housing Price Index for Canada overall rose by 1.5% y/y. ' f4 R3 u+ v+ `" x6 W1 {" g: D% x4 m9 ~. }6 T
Between December and January, Calgary prices were up 1.3%. Builders reported that higher material and labour costs as well as market conditions were the primary reasons for the increase, the largest in the region since April 2007. 0 @5 c0 B: n/ p4 l5 p