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Tuesday, November 8, 2011

New Home Starts Down In October

 New home construction in the province's urban centres lower last month according to the Canada Mortgage and Housing Corporation.
The data indicates a total of 213 starts in October compared to 349 starts for the same period last year.

CMHC Senior Market Analyst Claude Gautreau says multiple starts in the urban centres were significantly lower in October contributing to the overall decline recorded for the month.  He says year-to date, multiple starts are down 20 per cent from last year's total to 1160 units.

Single starts in October were also down from last year's total, with a 21 per cent decrease to 104 units.
In urban centres across the country, total housing starts recorded in October were up 21 per cent.      For more information, click here