New Housing Price Index Up in February
Following a 0.1% decline in January, the New Housing Price Index (NHPI) rose 0.2% in February.The combined metropolitan region of Toronto and Oshawa was the top contributor to the increase, with prices up 0.3% over the previous month. Market conditions and new list prices were the main reasons behind the gain. This was moderated by some builders offering promotional packages to stimulate sales and by lower list prices.