Three Increases and Three Decreases in Housing Starts Among Canada’s Six Largest Cities
Abstract:
Among the six largest cities in Canada according to population, Vancouver (+11%) was the leader in year-over-year housing start percentage increase in 2007. Earlier large price increases for single-family dwellings caused that market to decline (-25%), while multiple-family starts (+26%) more than made up the difference. Ottawa (+6%) and Montréal (+2%) also recorded increases in 2007, but Edmonton (-1%), Toronto (-10%) and Calgary (-21%) fell back, with varying implications for 2008.
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Among the six largest cities in Canada according to population, Vancouver (+11%) was the leader in year-over-year housing start percentage increase in 2007. Earlier large price increases for single-family dwellings caused that market to decline (-25%), while multiple-family starts (+26%) more than made up the difference. Ottawa (+6%) and Montréal (+2%) also recorded increases in 2007, but Edmonton (-1%), Toronto (-10%) and Calgary (-21%) fell back, with varying implications for 2008.