http://calgaryrealestatereview.com/5 _8 r( F: |: K3 X
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Calgary New Home Prices Post Largest Increase Since 2007# X* L$ h% D& F7 X7 `( {: g8 L' c
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Calgary new home prices in January increased at over 4x the annual pace of the rest of Canada according to data released by Statistics Canada today. # _9 J) K( r- R$ v* m s9 M3 ]# n: B7 f e
Year-over-year, Calgary saw a 7.0% increase, its highest annual rise since July 2007. By contrast, the New Housing Price Index for Canada overall rose by 1.5% y/y.& a( r) j& L$ A* S: Z. C
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Between December and January, Calgary prices were up 1.3%. Builders reported that higher material and labour costs as well as market conditions were the primary reasons for the increase, the largest in the region since April 2007. 8 U$ o6 l. G; x! h