New housing prices increased at their slowest pact in more than two and a half years in April, says a report by Statistics Canada.
Nationally, contractors' selling prices rose 5.2 per cent between April 2007 and April 2008.
In March, the year-over-year increase was 6.1 per cent.
April marks the third consecutive month in which housing price increases have decelerated.
It was also the month with the slowest rate of growth since September 2005, when year-over-year prices rose by 4.9 per cent.
On a monthly basis, prices were unchanged between March and April.
Regionally, for the 12th straight month, prices in Saskatoon rose at the fastest pace.
Saskatoon had a year-over-year increase of 43.7 per cent, although it was slower than the city's 46.3 per cent gain in March.
In Regina, the year-over-year increase was 34 per cent, compared to 27.8 per cent in March.
New housing prices in Regina rose 7.1 per cent between March and April.
Builders reported higher prices as a result of increased material and labour costs.
Meanwhile, prices rose 14.8 per cent in Winnipeg on a year-over-year basis.
Both Edmonton and Calgary showed slowing market conditions as competition among builders has resulted in lower prices, says the report.
In Edmonton, the annual growth rate slowed to 8.1 per cent in April -- the ninth consecutive month in which the pace of growth decelerated.
In Calgary, the year-over-year increase was 2.5 per cent in April, down from the 5.3 per cent annual increase in March.
In Newfoundland and Labrador, a strengthening economy along with higher material and labour costs pushed housing prices to record levels.
Homebuyers in St. John's saw prices jump 16.3 per cent in April, compared to the same period in 2007.
In Halifax, home prices saw a gain of 11.3 per cent on a 12-month basis.
For Vancouver, the 12-month increase in contractors' selling prices for was 5.4 per cent. In Victoria, the increase was 1.9 per cent.
In Quebec, prices increased 5 per cent on a yearly basis. In Montreal, the 12-month growth rate slowed to 4.3 per cent.
Toronto's annual growth rate was 4.6 per cent.
