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Monday, July 11, 2011

New Home Construction Remains Sluggish

Housing starts in the greater Saint John area remain behind last year's levels.


The latest survey from Canada Mortgage and Housing shows new home construction off by 40-percent in the first half of this year compared to the same period last year -- the survey is also showing new construction lagging in Fredericton and Moncton as well.

Meantime -- the Canadian Real Estate Association is forecasting zero growth in existing home sales across the province this year.