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Wednesday, September 9, 2009

Housing Starts Post A Gain In August

Construction of new multiple family units is helping to boost new housing starts in the Saint John area last month.

Canada Mortgage and Housing reports 37 new multiple units were started last month -- up from 16 a year ago while new single family starts dropped from 50 to 36.

Overall -- a total of 73 new units were underway last month up by just over ten percent compared to August of last year.

Fredericton is also reporting an 18-percent increase last month compared to a year ago while new housing starts in Moncton were down by almost five percent last month against August of 2008.