Economic uncertainty has failed to stem the tide of housing starts in Sudbury for the month of October, according to reports recently released by the Canadian Mortgage and Housing Corporation (CMHC).
In fact, at 50 single-detached units, October saw the highest number of such units built since 1993, and stood at double the 10-year average for single-detached starts.
The month also saw the beginning of four rental row units, leading to a total of 54 new starts.
In all, this brings the year-to-date total to 460 units, just 17 behind the first 10 months of 2007.
"Sudbury might not be immune to the current economic troubles, but there's more to its economy than just resources, providing it with more stability," says Warren Philp, Northern Ontario Market Analyst with the CMHC.
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