New home prices edge up

OTTAWA — The New Housing Price Index rose 0.1% in June, following a 0.7% increase in May, StatCan reports. The advance, driven mainly by new housing prices in Toronto and Oshawa and Vancouver, was moderated by decreases in Calgary and Edmonton. With an increase of 0.5%, the combined region of Toronto and Oshawa was the top contributor to the national gain among the census metropolitan areas covered by the survey. Builders reported higher labour costs, market conditions and new list prices as the reasons for the increase. New house prices in Vancouver advanced 0.4%, reflecting market conditions.