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June 21, 2023NEW HOUSING PRICE INDEX, MAY 2023 Month-over-month (May 2023 vs April 2023)
In Nova Scotia new housing prices were unchanged from the previous month in May 2023. Nationally, prices were up 0.1% from April. New housing prices increased in three provinces led by Alberta, and were down in two provinces with Saskatchewan posting the largest decline. New housing prices were unchanged in five provinces.
Year-over-year (May 2023 vs May 2022)
Nova Scotia’s new housing prices declined 0.6% from May 2022. Nationally, prices were also down 0.6%.
Three provinces posted gains in new housing prices led by Prince Edward Island and Newfoundland and Labrador. Manitoba reported the largest year-over-year decline in new housing prices. New housing prices were unchanged in two provinces.
Halifax new home prices decreased 0.6% year over year in May 2023. New housing price growth among Census Metropolitan Areas was fastest in Québec City. New housing prices declined in 19 CMAs led by Victoria.
Year-to-date (January-May 2023 vs January-May 2022): Provinces
Nova Scotia new housing prices increased 2.0% on average through the first five months of the year. Nationally new housing prices increased 0.7% with gains in all provinces except British Columbia. Alberta had the largest increase followed by Nova Scotia and Quebec.
Halifax's new housing price index was up 2.0% for January-May 2023 compared to the same period in 2022. Most of the cities had growth with the fastest growth in Calgary. New housing prices declined the most in Victoria and Kitchener-Cambridge-Waterloo.
Source: Statistics Canada. Table 18-10-0205-01 New housing price index, monthly
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