Cost of a new home in Calgary up more than 5% since last summer: StatCan
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The price of a new home in Calgary has risen more than five per cent since last summer – marking the largest increase among Canadian cities.
In July, year-over-year, prices in Calgary were up 5.2 per cent, according to Statistics Canada’s New Housing Price Index (NHPI).
Calgary was also tied for the largest month-over-month increase at 0.8 per cent – along with Edmonton, Kelowna and Regina.
Statistics Canada attributed the increases in Calgary and Edmonton to a rapidly growing provincial population, with Alberta seeing a one per cent increase in population in the second quarter of 2024.
Nationally, the index increased by 0.2 per cent month over month. Prices were up in 10 of the 27 census metropolitan areas (CMAs) surveyed, while they were unchanged in 13 and decreased in four.
Year-over-year across Canada, the index increased by 0.1 per cent.
“This marked the first annual increase in the index series since March 2023,” Statistics Canada said.
The NHPI measures changes over time in the selling prices of new residential houses.
The benchmark price across all home types in Calgary was $606,700 in July, up 7.7 per cent year-over-year, according to housing data from the Calgary Real Estate Board.
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