Local housing starts up in July
Posted Aug 11, 2015 08:29:02 AM.
This article is more than 5 years old.
An uptick for the local new home construction market.
Canada Mortgage and Housing Corporation reports housing starts in Waterloo Region last month totalled over 2,900 units, up by about 70 units from the previous month.
CMHC credits an upswing in single-detached and townhouse starts.
Corporation Senior Market Analyst Erica McLerie says “Demand for ground-oriented housing has increased as strong growth in the population between 25 and 34 years-old and over fifty years-old has increased demand from both first-time buyers and move-up buyers.”
She says a tight resale market has also translated into more new home construction.
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