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Canada New House Prices Rose 0.8% in October

11/20/2020 | 09:08am EST

By Kim Mackrael

OTTAWA--Canadian new house prices climbed in October, on advances in most housing markets across the country.

New house prices in Canada rose 0.8% in October from the previous month, Statistics Canada said Friday. In the previous month, new house prices advanced 1.2%.

On a year-over-year basis, new house prices rose 3.9% in October.

The data agency said the coronavirus pandemic has led to a number of changes that are contributing to higher new house prices, including through historically low borrowing rates and greater demand for larger homes and homes in cities that surround larger urban centers.

The new-house price index covers single-detached, semi-detached, townhouses and row homes. It doesn't incorporate condominium units.

Write to Kim Mackrael at kim.mackrael@wsj.com

(END) Dow Jones Newswires

11-20-20 0907ET

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