Canadian new housing price index flat in July

Shutterstock photo
Shutterstock photo

Shutterstock photo - - Canadian new house prices were flat in July, fuelling concerns over the health of the nation's real estate sector, official data showed on Thursday.

In a report, Statistics Canada said its new housing price index was unchanged in July, disappointing forecasts for a gain of 0.2%, and following a 0.2% increase in June.

Monthly price increases in eight metropolitan areas offset decreases in seven areas, resulting in no change to the Canada level index.

Following the release of the data, the Canadian dollar was lower against its U.S. counterpart, with USD/CAD rising 0.61% to hit 1.1003.

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