Local Housing Starts
Posted Jun 8, 2011 12:49:38 PM.
This article is more than 5 years old.
The wet weather last month is believed to have played a role in a slight decline in local housing starts.
Canada Mortgage and Housing Corporation reports construction started on 190 new homes in Waterloo Region, down from 214 in May of last year.
Senior Market Analyst Erica McLerie says “Although starts are down this year, traffic at new home sites has been steady. The high amount of rain likely dampened new construction activity in May.”
CMHC says, on a year-to-date basis, starts during the first 5 months of this year totalled 839 units, down from 1,178 during the same period in 2010.
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