Prices up 7.6% from last year By Mario Toneguzzi, Calgary Herald
CALGARY - The Calgary region led the nation with the highest price climb for new homes in May, according to Statistics Canada.
The New Housing Price Index, released Thursday, indicated that prices in the Calgary census metropolitan area rose by 0.8 per cent on a monthly basis and by 7.6 per cent year-over-year.
The federal agency said that builders in the Calgary region reported higher material and labour costs, market conditions and an increase in the cost of developed land as reasons for the gain in overall prices, which have been rising since December 2012.
Nationally, new home prices were up 0.1 per cent from April and by 1.5 per cent from May 2013.
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