New home prices have dropped again, declining 0.2 percent month over month in January in 25 of 27 cities, according to a new report by Statistics Canada.
In the New Housing Price Index for January 2023, released on Feb. 22, the agency indicated that higher mortgage rates are putting pressure on new house prices, with 18.7 percent more single-family homes completed but not sold in December 2022, compared with the same month one year prior.
