Local housing starts down slightly in August
Posted Sep 9, 2014 09:05:33 AM.
This article is more than 5 years old.
Housing starts in Waterloo Region were down slightly last month.
Canada Mortgage and Housing Corporation reports construction started last month on just under 3,400 new homes, down from a shade under 3,600 in July.
CMHC Senior Market Analyst Erica McLerie blames lower apartment starts.
She says, “Although single-detached starts were at the highest level in more than two years, the low level of townhouse and apartment starts in August pulled the trend lower.”
She does say for the first eight months of 2014, new construction is 65 per cent higher than at the same time last year.
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