New housing prices in Canada decreased by 0.3% month-on-month in May 2026, following a 0.4% drop in April and coming in weaker than expectations for a 0.1% decline. Prices for houses-only fell 0.4%, moderating from a 0.6% decrease in the previous month, while land-only prices declined 0.3%, accelerating from a 0.1% drop. On an annual basis, new housing prices were down 2.4% in May, compared with a 2.3% decline in April, marking the steepest year-on-year fall since September 2009.