New home prices fell in most major cities last month, StatCan says. Here's where

StatCan said that nationally, new home prices increased 2.7 per cent on a year-over-year basis in January 2023, “significantly lower than the 11.8 per cent year-over-year increase reported in January 2022, when the market was still hot.” When it comes to homebuying, CREA said earlier in February that sales hit a 14-year low for the month of January. Sales volume was 37.1 per cent below the same month last year, the second-best January ever on record.

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