But it wasn't an even picture with some regions experiencing considerable price increases, according to the latest figures from Statistics Canada.
The average price on a new house declined 0.3%, the federal agency said, as demand continued to cool across the national real estate market.
The dip confirms the first reverse in home prices in more than a decade, following the 0.4% decline experienced in October.
But property investors need to examine the statistics in detail as not everywhere saw a decline. St. John's recorded the largest annualized gain, with the value of a new home up more than 25% from 2007, and the monthly increase at 3.4%.
In a sign that Saskatchewan is beginning to feel the bite of a recession it has largely avoided so far, home prices were down 0.5%.
New home prices in Edmonton recorded an annual plunge of 7.9% and prices dipped 2.5% in Calgary. Prices fell 0.3% in Edmonton and 1.1% in Calgary between October and November.
Developers are cutting prices in a number of regions. On the West Coast, builders cut new home prices in Vancouver by 1.7% in November, a trend continued in Victoria.
Property markets in Eastern Canada, which have shown more stable supply-demand conditions, continued to rise, Statscan said.
Compared with November 2007, selling prices were 4.3% higher in Ottawa and 2.0% higher in Toronto.
In Quebec, the annual growth rate was 5.4%, while in Montreal, prices increased 4.6%, the agency said.
No market east of Saskatchewan experienced a month-to-month decline in new home prices.
