2/9/2012 8:40 AM ET
(RTTNews) - New home prices in Canada rose yet again, to another record high, led by higher prices in the red-hot Toronto metro market.
Statistics Canada's New Housing Price Index (NHPI) rose 0.1 percent in December, following a 0.3 percent increase in November.
In addition to Toronto and Oshawa, prices moved up on Montreal, offsetting drops in Vancouver and Hamilton.
Toronto price increases were primarily the result of good market conditions and increased land values, while higher materials costs contributed to the higher new home prices in Montreal.
Year over year, the NHPI was up 2.5 percent, the same increase as in the previous two months, with Toronto leading the way.
by RTT Staff Writer
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