Canadian July new house price index +2.8% y/y vs +2.5% y/y exp

Canada new house price index

• Prior was +2.5% y/y
• Prices up 0.4% m/m vs +0.1% exp

Separately, Canadian building permits

• July permits +0.8% vs +2.9% exp
• Prior -5.5% (revised to -5.3%)

Weak reading on building permits and there's no easy answer with good weather in Canada in those months.

The big questions for Canadian housing start in August data when the tax on foreign buyers hit on the west coast.