February 2025 New Housing Price Index Released by Statistics Canada

The New Housing Price Index (NHPI) figures for February 2025 have been released by Statistics Canada. This index tracks the fluctuations in the selling prices of new residential homes. These prices are negotiated between contractors and buyers, exclusive of taxes like the federal Goods and Services Tax and the provincial harmonized sales tax.

The NHPI provides insight into price changes for various new residential property types, such as single homes, semi-detached homes, and townhomes. Data from the index is available at both national and provincial levels and encompasses 27 census metropolitan areas across Canada.

Statistics Canada reports that housing prices have remained unchanged from the previous month, maintaining consistent pricing conditions as outlined in contracts at the time of agreement by buyers and builders. This report serves as an indicator of pricing trends in the Canadian housing market, with implications for regions including the Northeast of Ontario.