Prices Analytical Series:
New Housing Market Report, 2025: Experimental estimates

Introduction

This report is the second annual release of the New Housing Market Report series, following the initial 2024 release. Data collection was expanded to Alberta in the second half of 2025, and the results are included in this report. Data collection will be expanded to Ontario in 2026, followed by Quebec at a later stage. List and sale prices, as well as other housing characteristics, were collected for new single-detached houses, semi-detached houses, row houses and condominium apartment dwellings (including low- and high-rise condominium apartments, stacked townhomes, duplexes, and triplexes).

New dwelling list price data for this report are collected in a reference quarter regardless of the stage of construction (pre-sales, under construction or completed). The list prices collected (or sale prices if the list prices are unavailable) are used to calculate the average list price (hereafter referred to as the average price) of a dwelling type for a given census metropolitan area (CMA). 

It is important to note that there are no price indexes in the New Housing Market Report. Price indexes measure the price change for the same sample of house models (constant quality) from period to period, while the average prices in this report include any reported homes on the market regardless of whether they were included in the sample from the previous period. As a result, changes in average prices from one period to another do not account for the size, composition or quality of the homes available in each quarter. Therefore, caution is advised when comparing average prices from one period to another. The Technical guide for the New Housing Market Report provides an overview of the methodology behind the program, including the data collection process.

National highlights

Slower pace for the new home market: Nationally, the number of for-sale housing starts^Note 1 (for homeowner and condominium intended markets) declined 10% year over year in 2025. This decrease in starts, along with the 35% yearly increase (December 2025) in the inventory of completed and unabsorbed units,^Note 1 indicated a slower housing market in 2025 compared with 2024. Table 1 shows the yearly change in the inventory of completed and unabsorbed units for each CMA covered in this report.

Average new home prices

Table 2 presents the average price of a new home by type of dwelling in the fourth quarter of 2025. Refer to the charts in Appendix A for the average prices in all quarters of 2025.

Living area

Single-detached houses in the range of 1,500 to 2,000 square feet were most commonly reported in most of the CMAs covered in 2025. New single-detached houses were the most common dwelling type in 2025 in all CMAs outside British Columbia covered by this report. In the British Columbia CMAs, condominium apartments were the most popular. Units in the range of 500 to 1,000 square feet were most common in the CMAs where condominium data were available.

Regional highlights of the new housing market

British Columbia

Builders in British Columbia reported a decline in sales in 2025, compared with 2024, and offered higher incentives to encourage sales. This decline in activity can be seen in the inventory of completed and unabsorbed units^Note 1 in all the CMAs covered by this report in the province, as shown in Table 1. The province also recorded a 5% yearly decrease in for-sale housing starts^Note 1 in 2025. Declines were reported in Kelowna, Vancouver and Victoria, while increases were reported in Kamloops and Abbotsford–Mission.

Vancouver

In the Vancouver CMA, condominium apartments were the predominant dwelling type in 2025, accounting for 74% of all for-sale housing starts.^Note 1 Among all single-family dwelling types, row houses were the most dominant. The highest number of units in new condominium apartments for sale were in Burnaby and Surrey. New row houses were most available in Coquitlam, Surrey, and Langley.

Prairie region

Construction activity rose in Alberta in 2025, with the province reporting a 4% year-over-year increase in for-sale new housing starts^Note 1 and 36% more starts than British Columbia in 2025. The growth in activity was driven by a 15% increase in Edmonton. Calgary recorded a 4% yearly decline but had a larger number of starts than both Edmonton and Vancouver.

Yearly increases in new for-sale housing starts were observed in Saskatchewan (+41%) and Manitoba (+24%) in 2025, with growth seen in all CMAs in the provinces.

In the Prairie region, single-detached homes were the predominant dwelling type for new for-sale housing in 2025, accounting for 46% of all for-sale housing starts in the region. This predominance was observed in all CMAs covered by this report in the region. Table 3 shows the entry-level price ranges^Note 2 for a single-detached house in the CMAs covered by this report in the region in the fourth quarter of 2025.

Calgary

Within the Calgary CMA in 2025, the southern area had the largest number of new row houses on the market, with an average price of $576,100 (fourth quarter of 2025). The lowest average price for a new row house was reported in Cochrane, at $444,300, where the lowest average living area was also reported. The southern area of Calgary was also the predominant area for new condominium apartments on the market, with an average price of $391,600, the lowest reported average price in the Calgary CMA.

Edmonton

Within the Edmonton CMA in 2025, the southwestern area had the highest number of new row houses on the market and the largest average living areas, with an average price of $451,000 for a new row house in the fourth quarter.

The southwestern area of the Edmonton CMA was also the predominant area for new condominium apartments, while also having the largest average living area in 2025, with an average price of $352,100 in the fourth quarter. The lowest average price ($216,200) and lowest average living area for a new condominium apartment were reported in the western area of the CMA.

Atlantic region

Construction activity in the Atlantic region (Newfoundland and Labrador, Prince Edward Island, Nova Scotia, and New Brunswick) increased in 2025 compared with 2024, with for-sale housing starts^Note 1 up 10% year over year. All CMAs in the region reported yearly increases except for Moncton, which reported an 8% decline.

In the Atlantic region, single-detached homes were the predominant dwelling type for new for-sale housing in 2025, accounting for 66% of all for-sale housing starts in the region. The predominance of single-detached houses was seen in all CMAs covered by this report in the region. Table 4 shows the entry-level price ranges^Note 2 for a single-detached house in the geographic areas covered by this report in the region in the fourth quarter of 2025.

Modular constructed homes

A modular house is built using one or more prefabricated three-dimensional components or modules (including walls, floors and roofs). It is constructed partially or completely off-site in a manufacturing facility and then transported to a property and assembled.

Reported prices for modular constructed homes exclude the cost of land, as well as any costs associated with site preparation (excavation and fill), utility connections or exterior features (driveway and landscaping). Table 5 presents the average square footage for modular constructed homes, by price range, across three Atlantic provinces^Note 3 in 2025.

In 2025, modular constructed homes in the range of $100,000 to $199,999 were most reported in the three provinces surveyed, accounting for 55% of reported units in New Brunswick, 37% in Nova Scotia and 53% in Prince Edward Island. Three-bedroom homes were the most frequently reported configuration in New Brunswick and Prince Edward Island, while two-bedroom homes were predominant in Nova Scotia.

Acknowledgments

Statistics Canada acknowledges the contributions of builders and developers to the data collection and thanks Altus Group for sharing high-level statistics that supported validation and analysis.

Statistics Canada also appreciates the collaboration of the Canadian Home Builders’ Association and its regional affiliates, whose engagement helped enhance insights into the new home market.

Appendix A

Data table for Chart 1

Data table for chart 1
Table summary
The information is grouped by Geography (appearing as row headers), First quarter of 2025, Second quarter of 2025, Third quarter of 2025 and Fourth quarter of 2025, calculated using average price (dollars) units of measure (appearing as column headers).

Geography	First quarter of 2025	Second quarter of 2025	Third quarter of 2025	Fourth quarter of 2025
	average price (dollars)
Note .. not available for a specific reference period Note: Geographic area and dwelling type combinations with insufficient data in a given quarter are excluded. Source: Statistics Canada, New Housing Market Report.
St. John's	466,700	451,700	455,400	464,800
Prince Edward Island	553,700	552,300	543,800	533,700
Halifax	746,600	784,600	780,900	792,500
Fredericton and Moncton	622,000	621,700	630,400	615,900
Winnipeg	609,800	618,300	625,000	622,000
Regina	596,200	612,300	599,100	608,900
Saskatoon	589,700	617,200	621,200	611,400
Calgary	.. not available for a specific reference period	.. not available for a specific reference period	769,300	759,800
Edmonton	.. not available for a specific reference period	.. not available for a specific reference period	580,200	593,500
Kelowna	1,547,200	1,545,800	1,556,700	1,581,700
Vancouver	1,989,200	1,903,200	1,958,800	2,043,800
Victoria	1,243,100	1,251,900	1,220,100	.. not available for a specific reference period

Data table for Chart 2

Data table for chart 2
Table summary
The information is grouped by Geography (appearing as row headers), First quarter of 2025, Second quarter of 2025, Third quarter of 2025 and Fourth quarter of 2025, calculated using average price (dollars) units of measure (appearing as column headers).

Geography	First quarter of 2025	Second quarter of 2025	Third quarter of 2025	Fourth quarter of 2025
	average price (dollars)
Note .. not available for a specific reference period Note: Geographic area and dwelling type combinations with insufficient data in a given quarter are excluded. Source: Statistics Canada, New Housing Market Report.
Halifax	640,800	631,500	631,000	645,700
Fredericton and Moncton	476,400	469,500	.. not available for a specific reference period	465,000
Winnipeg	454,300	449,500	461,000	466,100
Regina	.. not available for a specific reference period	516,100	502,500	511,300
Saskatoon	.. not available for a specific reference period	573,800	561,200	.. not available for a specific reference period
Calgary	.. not available for a specific reference period	.. not available for a specific reference period	616,600	596,800
Edmonton	.. not available for a specific reference period	.. not available for a specific reference period	480,500	477,900
Vancouver	1,446,500	1,429,700	1,427,000	1,383,200

Data table for Chart 3

Data table for chart 3
Table summary
The information is grouped by Geography (appearing as row headers), First quarter of 2025, Second quarter of 2025, Third quarter of 2025 and Fourth quarter of 2025, calculated using average price (dollars) units of measure (appearing as column headers).

Geography	First quarter of 2025	Second quarter of 2025	Third quarter of 2025	Fourth quarter of 2025
	average price (dollars)
Note .. not available for a specific reference period Note: Geographic area and dwelling type combinations with insufficient data in a given quarter are excluded. Source: Statistics Canada, New Housing Market Report.
Winnipeg	441,500	446,600	450,900	452,200
Saskatoon	504,400	507,000	500,900	485,700
Calgary	.. not available for a specific reference period	.. not available for a specific reference period	554,300	543,900
Edmonton	.. not available for a specific reference period	.. not available for a specific reference period	417,400	422,900
Kelowna	1,092,600	1,086,600	1,105,800	1,127,300
Abbotsford–Mission	928,600	881,100	853,800	869,100
Vancouver	1,188,700	1,185,500	1,163,200	1,175,200
Victoria	1,078,300	1,078,400	1,079,900	1,080,300

Data table for Chart 4

Data table for chart 4
Table summary
The information is grouped by Geography (appearing as row headers), First quarter of 2025, Second quarter of 2025, Third quarter of 2025 and Fourth quarter of 2025, calculated using average price (dollars) units of measure (appearing as column headers).

Geography	First quarter of 2025	Second quarter of 2025	Third quarter of 2025	Fourth quarter of 2025
	average price (dollars)
Note .. not available for a specific reference period Note: Geographic area and dwelling type combinations with insufficient data in a given quarter are excluded. Source: Statistics Canada, New Housing Market Report.
Halifax	634,000	638,500	630,900	641,000
Winnipeg	365,600	372,800	395,600	410,200
Calgary	.. not available for a specific reference period	.. not available for a specific reference period	513,000	479,600
Edmonton	.. not available for a specific reference period	.. not available for a specific reference period	376,800	367,300
Kelowna	769,000	781,300	771,200	776,600
Kamloops	673,200	694,800	707,700	709,200
Abbotsford–Mission	565,200	555,000	568,400	551,500
Vancouver	1,033,000	994,600	995,600	1,014,300
Victoria	695,900	693,700	678,700	703,100

Appendix B – Collection rates

The collection rates for 2025 are provided in Table 6. For additional details regarding the frame selection and collection rates, refer to the technical guide.