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Thomas StorringDirector – Economics and Statistics
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January 24, 2025
NEW HOUSING PRICE INDEX, DECEMBER AND ANNUAL 2024

Monthly (December 2024 vs November 2024)

There was no change reported Nova Scotia new housing prices from November to December 2024. Nationally the price of new houses declined 0.08%, with the largest increase seen in New Brunswick (+0.58%), and the sharpest decline in Alberta (-0.25%).

Year-over-year (December 2024 vs December 2023) 

Nova Scotia’s new housing prices increased 1.5% from December 2023 to December 2024. Nationally, prices were up 0.1%.

New housing prices increased year-over-year in six provinces, led by Alberta (+3.6%). Ontario reported the largest decline in new housing prices at 1.2%.

Halifax new home prices increased 1.5% year-over-year in December 2024. Among Census Metropolitan Areas, new housing prices were down year-over-year in fifteen cities, with Ottawa and Kitchener-Cambridge-Waterloo reporting the largest declines. Calgary and Québec City reported the largest year-over-year gains. 

Annual (2024 vs 2023)

Nova Scotia new housing prices decreased 0.2% on average in 2024, more than the national average decline of 0.1%. Alberta saw the largest increase in new housing prices at 2.8%, while Ontario reported the largest decline at 1.3%.

Nova Scotia new housing prices declined 0.2% on average in 2024. This was the first overall annual average decline in new housing prices in Nova Scotia since 1997, and the third reported decline since records began in 1986.

Halifax's new housing price index was down 0.2% in 2024. Sixteen cities reported annual average declines in new housing prices with the fastest decline reported in Ottawa. The largest gain in new housing prices for 2024 was reported in Calgary. 

Source: Statistics Canada. Table 18-10-0205-01 New housing price index, monthly