New house prices flat in December, Inventory being added. - Canada.

"Of the 21 cities included in the new housing price index, Calgary showed a November-to-December decrease in prices of 0.5 per cent, while Victoria had a decline of 0.4 per cent."

"The drops were attributed mainly to a moderating market. Calgary and Victoria had been among the most heated real estate markets over the past several years."

"December prices for new homes in Sudbury, Thunder Bay, Windsor, St. Catharines–Niagara, Saint John, Fredericton and Moncton were also down from November."

Starts higher

"While prices at the end of 2006 showed signs of flatness, 2007 housing starts got off to a good beginning, Canada Mortgage and Housing Corp. said."

"January starts across the country came in at a seasonally adjusted annual rate of 249,300, CMHC said. That was up from 212,600 in December."

"Starts of urban multiple units, such as condominiums, shot up 31.4 per cent to 124,300 units.
"The volatile multiples segment bounced back in January, accounting for most of the growth this month," said Bob Dugan, chief economist at CMHC’s market analysis centre."

"Urban single starts jumped 5.9 per cent to 92,000 units" Full Article.