First-Quarter Housing Starts Up in Majority of Canada’s Cities
Abstract:
Despite severe winter weather, Toronto (+60%) was a leader along with Calgary (+68%) in first-quarter 2008 starts. Ottawa (+37%), Montréal (+26%) and Vancouver (+19%) also had gains. In all five of those centres, it was multiple-unit starts that pulled up their totals. Only Edmonton (-31%) had a tail-off in combined starts. There has been a large “disconnect” of late between singles and multiples. Furthermore, sales of existing homes are weakening and this has implications for new home starts and prices.
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Despite severe winter weather, Toronto (+60%) was a leader along with Calgary (+68%) in first-quarter 2008 starts. Ottawa (+37%), Montréal (+26%) and Vancouver (+19%) also had gains. In all five of those centres, it was multiple-unit starts that pulled up their totals. Only Edmonton (-31%) had a tail-off in combined starts. There has been a large “disconnect” of late between singles and multiples. Furthermore, sales of existing homes are weakening and this has implications for new home starts and prices.