New housing prices tick up

OTTAWA — The New Housing Price Index rose 0.1% in October, reports Stats Canada, following no change in September. Hamilton was the top contributor to the national increase, with prices rising 0.6% in October. Builders in that region cited higher list prices for new phases of development and market conditions as the reasons for the increase. The largest monthly price increase in October occurred in Windsor (+0.7%), where builders reported that rising material costs, higher land development costs, and market conditions contributed to the price gain. Prices rose 0.6% in both Regina and Saskatoon.