SmartHomeOwners

OTTAWA: The New Housing Price Index rose 0.3 per cent in May following identical increases in March and April.

Statistics Canada reports prices increased the most in Regina (up 3.4 per cent), followed by Toronto and Oshawa (0.7).

In Regina, builders reported that they increased their prices as a result of higher material and labour costs as well as increased land development.

In Toronto and Oshawa, builders continued to report strong market conditions.

Prices decreased in Kitchener (down 0.8 per cent), Victoria (0.4), Windsor (0.2) and London (0.1).

Year over year, the index was up 2.9 per cent.