New home prices in Calgary remain steady in January

By Mario Toneguzzi
Calgary Herald
March 11, 2010

CALGARY - New home prices in the Calgary census metropolitan area remained relatively the same in January compared with a year ago.

Statistics Canada, in releasing its New Housing Price Index today, said prices in Calgary dropped by 0.6 per cent from January 2009 but they were up by 0.5 per cent from December. Nationally, prices were up 0.4 per cent on a monthly basis and 0.1 per cent on an annual basis, said the federal agency.

Between December and January, prices rose the most in St. John's (1.7 per cent), followed by Winnipeg ( 0.7 per cent), and Toronto and Oshawa (0.6 per cent). Ottawa–Gatineau, Saskatoon and Calgary all registered 0.5 per cent increases.

The national year-over-year increase was the first since December 2008, mostly as a result of price decreases in Western Canada that were less pronounced this January than in previous months, said Statistics Canada.

The largest year-over-year increase was recorded in Québec (6.2 per cent) followed by St. John's (5.5 per cent).

"Declines slowed in most of Western Canada's metropolitan regions as new housing prices were returning to the price levels observed prior to the highs registered at the end of 2007 and the beginning of 2008," said the federal agency.

mtoneguzzi@theherald.canwest.com

© Copyright (c) The Calgary Herald

Single Family
	December	January	February
Listings	2054	2513	3106
Sales	799	762	1035
Absorption (# of months of inventory)	2.6	3.3	3.0
Average Price (in thousands)	$451	$441	$458
Median Price (in thousands)	$401	$398	$411

Condos
	December	January	February
Listings	1204	1397	1741
Sales	341	376	536
Absorption (# of months of inventory)	3.5	3.7	3.2
Average Price (in thousands)	$289	$283	$283
Median Price (in thousands)	$265	$265	$266