Following a strong October in home building, 14 single-detached home starts were recorded in Thunder Bay during November according to statistics released Dec. 8 by Canada Mortgage and Housing Corp.
“Single starts came in at four units below the ten-year average for the month,” said Warren Philp, CMHC's Northern Ontario market analysis. Thunder Bay has seen more total starts in 2009 than the year before with 172 units started for the first 11 months compared to the same period in 2008 when 167 were recorded.
Philp said tighter resale market conditions have spilled over into higher levels of home construction.
Nationally, housing starts in November reached 158,500 units, representing a slight increase over October when 157,400 units were recorded.
CMHC chief economist Bob Dugan said, “Despite a small decline in November's multiple home construction, overall starts numbers were up due to a solid increase in single starts.”
November's seasonally adjusted annual rates of urban home starts increased by 10 per cent in Quebec, 8.2 per cent in the Prairies and 6.2 per cent in British Columbia.
The rate of urban starts dropped by 8.3 per cent in Ontario and 9.8 per cent in Atlantic Canada.
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