OTTAWA — New home prices rose more than expected in September as the country real estate market showed more signs of recovery.
Statistics Canada said Thursday its price index rose 0.5 per cent during the month — the biggest monthly increase since January 2008 — following a 0.1 per cent gain in August.
Economists had forecast an increase of 0.2 per cent in September.
Prices rose the most in Vancouver, up 1.4 per cent from August, followed by Ottawa–Gatineau, up one per cent. Calgary was 0.6 per cent higher, and Toronto, Oshawa, Ont., and Saskatoon were all up 0.5 per cent.
The biggest declines were in Windsor, Ont., down 0.7 per cent, Sudbury, Ont., and Thunder Bay, Ont., both down 0.5 per cent, Victoria, off 0.2 per cent, and Edmonton, where prices were 0.1 per cent lower.
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