OTTAWA - Growth in new housing prices slowed for a second straight month from a year ago in March, continuing a downward trend that started in September 2006.

Contractors' selling prices rose 6.1 per cent between March 2007 and March 2008, a slightly slower pace than the 6.2 per cent year-over-year increase posted in February.

Prices rose 0.2 per cent between February and March.

Prices rose at the fastest pace in Saskatoon for the 11th straight month, with a year-over-year price increase of 46.2 per cent, down from the record-setting pace of 58.3 in February.

Saskatoon housing prices rose 2.1 per cent from February.

In Regina, the year-over-year increase was 27.8% in March, down marginally from the annual growth rate of 28.6% recorded in February. Regina's new housing prices rose 1.7% between February and March.

The markets continued to slow in Edmonton and Calgary, where builders in both cities reported lowering prices to generate interest and stimulate sales.

The 12-month growth rate in Edmonton slowed to 13.5 per cent in March, the eighth straight month of growth deceleration. New housing prices were down 1.1 per cent in Edmonton, where they dropped for a third straight month.

Prices rose 5.3 per cent in Calgary between March 2007 and March 2008.

A strengthening economy, coupled with increased material and labour costs, contributed to record increases in Nova Scotia.

Prices rose 12.8 per cent in Halifax, up from the year-over-year increase of 11.4 per cent in February.

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