08:40 AM EDT, 07/23/2025 (MT Newswires) -- The national index declined on a month over month basis in June (-0.2%), down for the third consecutive month, Statistics Canada said Wednesday. Prices were down in 12 of the 27 census metropolitan areas (CMAs) surveyed, while prices were unchanged in 10 CMAs and up in the remaining five, it added.

According to StatsCan, the largest month over month decrease in June was recorded in Greater Sudbury (-0.9%), followed by Calgary (-0.8%). It said builders reported market slowdowns where buyers were able to negotiate lower prices.

StatsCan also noted the largest monthly increase in June was recorded in Charlottetown (+1.4%), followed by Victoria (+0.7%).

On year to date change, StatsCan noted that nationally the New Housing Price Index (NHPI) declined by 0.8% for the year to date. It said the NHPI was stable during the first three months of 2025, followed by a downward trend which began in the second quarter of the year.

StatsCan noted the fastest year to date new home price decline was observed in London (-2.3%), followed by Edmonton (-1.9%). In early 2025, home prices in these CMAs trended downward due to uncertainties related to tariffs imposed on Canada by the United States and tariff countermeasures imposed on the U.S. by Canada. It noted the resale market also saw decreases in London, according to the Canadian Real Estate Association (CREA), with the MLS Home Price Index benchmark price down 4.5% in London for single family homes since January 2025. Statistics Canada also reported that the unemployment rate in London was 7.2% in June, up 0.2 percentage points since the beginning of the year. In contrast, the national unemployment rate was 6.9% in June.

Despite the economic uncertainty impacting multiple CMAs, StatsCan noted new home prices increased the most in Halifax (+4.6%) and Quebec (+3.9%) on the year to date basis. According to the New Housing Market Report, 2024: Experimental estimates, the increased construction cost of a single detached house combined with supply shortages (190 new dwellings completed per 1,000 persons of population growth), contributed to higher new home prices in Halifax. The shortage of supply also drove the home prices upward in Quebec. According to the Canada Mortgage and Housing Corporation, inventory of new single-family homes completed and unsold dropped by 39.6% in Quebec in June compared to January 2025. On the resale market, the Quebec Professional Association of Real Estate Brokers reported a 27% decrease in active listings and an 18% increase in the median price for single-family homes during the same period.