New home prices: Statistics Canada NHPI, 2026-07
The New Housing Price Index for major Canadian markets from Statistics Canada, updated monthly: national and city readings with year-over-year change.
Statistics Canada's New Housing Price Index put the Canada-wide reading at 120.5 for 2026-07, down 2.3% from a year earlier. Toronto showed the steepest year-over-year decline among the tracked cities at 105.8, down 4.6%, followed by Vancouver at 122.5, down 3.4%.
| Market | Index — year over year |
|---|---|
| Canada | 120.5 — -2.3% |
| Toronto | 105.8 — -4.6% |
| Vancouver | 122.5 — -3.4% |
| Calgary | 129.8 — -1.1% |
| Edmonton | 106.0 — -0.9% |
| Ottawa | 161.5 — -0.5% |
| Montreal | 159.5 — 3.4% |
| Halifax | 128.6 — 1.0% |
| Winnipeg | 148.3 — 2.6% |
Not every market moved the same direction: Montreal's index rose 3.4% year over year to 159.5, and Winnipeg was up 2.6% to 148.3, while Halifax edged up 1.0% to 128.6. Calgary (129.8, down 1.1%), Ottawa (161.5, down 0.5%), and Edmonton (106.0, down 0.9%) were closer to flat.
Why new construction is slowing everywhere
The common thread behind nearly every city on this page, even the ones posting gains, is that new construction itself has slowed nationally. CMHC's housing-starts data shows a seasonally adjusted annual rate around 261,000 units in a recent reading, down over 6% from a year earlier, and July 2026 starts specifically were down 19% year over year, with year-to-date starts running about 4% behind the prior year. Condominium starts have been hit hardest, echoing the sharper slowdown visible in Toronto and Ottawa's numbers above.
That's a supply story more than a demand collapse: developers are facing higher construction costs, softer presale demand from investors, and a growing pool of already-built but unsold units in some markets, which together make it harder to justify breaking ground on new projects regardless of what buyers actually want. New construction pricing (what this page tracks) and resale pricing (what a local board reports) can diverge for exactly that reason. A slowdown in new starts doesn't necessarily mean fewer homes are changing hands, just fewer new ones being built.
Sources
- Statistics Canada — retrieved 2026-09-14
- Statistics Canada. Table 18-10-0205-01, "New housing price index, monthly." Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
- CMHC, Housing Market Outlook