Canada New Home Price Index Rises 0.2% in April on Toronto Gain

Canada’s new-home price index rose a 13th consecutive month in April, led by gains in Toronto, Statistics Canada said.

The index rose 0.2 percent on a monthly basis, Statistics Canada said today in a statement, following a 0.3 percent increase in March. Economists predicted a 0.3 percent monthly gain, according to the median estimate in a Bloomberg survey with 11 responses.

The price of new homes increased 0.3 percent in Toronto and the neighboring suburb of Oshawa, the agency said.

From a year earlier, new home prices increased 2.5 percent in April, according to the report.

To contact the reporter on this story: Andrew Mayeda in Ottawa at amayeda@bloomberg.nent

To contact the editors responsible for this story: Christopher Wellisz at cwellisz@bloomberg.net; David Scanlan at dscanlan@bloomberg.net.

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