Canada’s New Housing Price Index (NHPI) fell 0.1% month-on-month in July 2026, missing expectations for no change. The latest data follows a revised 0.2% increase in June and points to softer momentum in the new-home market amid elevated borrowing costs. An earlier record had reported a 0.1% June decline and annual price growth of negative 2.3%, while the latest account says the annual index remained elevated, creating a discrepancy in the historical readings. The NHPI tracks selling prices for new residential houses and is closely watched as a measure of housing-market conditions. The July decline may reflect builders adjusting prices to attract buyers as affordability remains constrained, adding to signs of a broader housing-sector cooling alongside slower resale activity and declining building permits.