Posted in Just read this article on Canadian housing starts.
“… Canada’s housing starts rose in March, a sign that builders have begun putting more stakes in the ground, according to new statistics released Wednesday.
The Canada Mortgage and Housing Corporation said starts increased by 13.7 per cent, or 154,700 new units when one-month figures are stretched over a full year.
The increase is a welcome bit of news for a sector hammered by a global credit crunch and a domestic economic slowdown.
“While the multiples segment experienced the largest increase, the overall boost in starts was broad based, encompassing the singles segment as well,” said Bob Dugan, chief economist at CMHC’s Market Analysis Centre.
Building in Canadian cities and towns with populations in excess of 10,000 jumped by 17 per cent, with construction of multiple units — essentially apartment buildings and condominiums — posting a 28 per cent gain…“
As a matter of fact, that’s supported by some of the real estate board numbers:
Vancouver: up 53% over February (http://www.rebgv.org)
Calgary: up 32% over February (http://www.creb.com)
Edmonton: up 30% over February (http://www.ereb.com)
Here’s an article showing increased activity in the bond market.
That’s great news – it means that there’s more money being lent by banks and more people in the market to buy. That, combined with a lower inventory is starting to show that the Canadian housing market has some footing.
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