The cost of buying a new house increased more in Regina in August than in any other city in the country.
Whether you consider that good news or bad news depends on which side of the transaction you’re on but it is a noteworthy change. The StatsCanada data for August compared to July shows the price of a new home rose three-tenths of a point in Regina.
Nationally, the new home price index didn’t change. That was the story in 13 of 27 cities the agency monitors. Eight had increases with Regina at the top of the list. Saskatoon also saw an increase of one-tenth of a point while six cities actually posted declines.
The agency does not track the reasons behind the increases but they do ask builders about their pricing decisions. Quite often, they report that builders tighten their margins as promotional efforts or they are simply passing along costs for land or materials or government levies.
But on this report, they said builders reported strong demand in Saskatchewan’s major cities, enabling price increases as interest rates begin to fall.
