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New home prices up marginally in Canada

Oct. 10, 2013 at 2:48 PM

OTTAWA, Oct. 10 (UPI) -- New home prices in Canada rose 0.1 percent in August following a 0.2 percent rise in July, Statistics Canada reported Thursday.

The highest month-to-month gains in July were posted by Calgary, where new home prices rose 0.6 percent due to higher costs for labor and materials and due to a shortage of developed land.

StatsCan said prices rose 0.3 percent in Montreal and Saskatoon. Prices fell in Vancouver, Halifax, Ottawa and Victoria, largely due to negotiated selling prices, StatsCan said.