Growth was reported in 14 out of the 21 surveyed cities, in three of them the prices did not change and they fell in four. The most significant rises were recorded in Toronto, Regina and Oshawa. From May 2009, new home prices rose by 2.9 percent. The housing only component of the index grew by 0.4 percent from April and by 4.6 percent from May 2009. The land only component was 0.2 percent up if compared to April 2009, but 0.3 percent down from May 2009.

 

This is quite good news! Not that a drop was expected – it was not, at least not a huge one but the housing situation seems to be pretty stable. Almost like there was no recession at all.