Canadian new house prices up 0.1 percent in June

Canadian new house prices up 0.1 percent in June

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According to Statistics Canada, new house prices edged up 0.1 percent at the national level for the second consecutive month in June.

In the third full month of modified operations, the residential builders surveyed reported increased sales volumes in June compared with a month earlier. While the real estate industry embraced new ways to serve their clients through the adoption of virtual tools and physical distancing measures, some builders in the residential construction industry also adapted to new technology, using new software to order and track deliveries of material more efficiently.

The residential construction industry continued to struggle with some labor and material shortages, as well as with the inability to operate at full capacity due to restrictions relating to physical distancing.

At the national level, new house prices rose 1.3 percent in the 12-month period ending in June, following a 1.1 percent rise in May. On a year-over-year basis, prices have been increasing for seven consecutive months at the national level.

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