July 8, 2010
New home prices seem to keep rising. And they seem to keep rising because they do keep rising.
According to the Globe and Mail:
The New Housing Price Index rose 0.3 per cent in May following identical increases in March and April. Statistics Canada reports prices increase the most in Regina (up 3.4 per cent), followed by Toronto and Oshawa (0.7).
So if you bought a preconstruction home recently, congratulations! You’ve already made a return on your investment!
Although, it wasn’t all good news. Some cities including Kitchener, Victoria, Windsor and London saw prices decrease.
Overall, though, Canadian new homes are looking good.