Calgary led the country in September with the highest increase year-over-year in new home prices.
The New Housing Price Index, released Thursday by Statistics Canada, said prices in the Calgary area were up 6.3 per cent from a year ago, which represented the highest annual hike since July 2007.
Nationally, prices rose 1.6 per cent.
On a monthly basis, prices rose by 0.5 per cent in Calgary from August while they were flat across the country.
“The largest monthly price increase in September occurred in Calgary . . . where builders reported that rising material and labour costs as well as higher land development costs contributed to the price gain. New home prices in Calgary have been increasing since December 2011,” said the federal agency.
© Copyright (c) The Calgary Herald