The cost of a new house in Canada dipped in December from November, marking the third month in a row that prices have dropped, but rose slightly from a year earlier.

Selling prices by contractors declined 0.1 per cent from November, Statistics Canada said Wednesday. On a year-over-year basis, prices increased 0.4 per cent in December.

The annual change marked a slowing price from the 0.7 per cent increase recorded in November.

Month over month, prices fell 1.3 per cent in Calgary and 0.3 per cent in Edmonton. In Saskatoon, prices dropped 0.7 per cent as some builders cited lower labour costs, the statistics gathering agency said.

Monthly prices rose 0.2 per cent in Ottawa-Gatineau and were flat in Toronto, Oshawa, Quebec, Montreal and Vancouver.

More.. ]]> http://www.invest-in-canada.com/real-estate/house-prices-dip-in-december.htm/feed 0 http://www.invest-in-canada.com/real-estate/the-worst-housing-news-in-26-years.htm http://www.invest-in-canada.com/real-estate/the-worst-housing-news-in-26-years.htm#comments Mon, 17 Nov 2008 05:33:36 +0000 investor http://www.invest-in-canada.com/?p=124 In the six weeks since Vicky and Mike Plover put their house in Kelowna, B.C., on the market, a so-called healthy housing correction has been turned by a crumbling economy into the worst decline in a generation.

House prices in the B.C. Interior region tumbled by 11.2 per cent last month from the previous October, the sharpest decline in the province and even worse than the national drop, which was the worst year-over-year monthly tumble in 26 years.

Ms. Plover said she remains confident the home will sell but realizes the economy is now working against her and her husband.

“Unfortunately, we were a bit late [to put the house up for sale],” Ms. Plover said Friday morning before her realtor hosted an open house, with another set for Sunday. “It’s definitely tougher than it was six months ago. And the economy this fall has made a huge difference.”

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