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Wednesday, August 10, 2011

July Housing Starts Down A Bit

Home construction in the Province's urban centres down a bit in July according to figures from Canada Mortgage Housing Corporation.

There are 481 starts during the month compared to 491 starts for the same period last year.

Senior Market Analyst Claude Gautreau says the decline in housing starts in July was the result of lower multiple starts, as single starts in provincial urban centres for the month climbed 7 per cent compared to 2010.
In July, multiple starts were down 6 per cent to 306 units. Gautreau says the construction of multiple units in Moncton and Fredericton in July were more than offset by declines in Saint John. Multiple starts are down 25 per cent to 736 units year to date.