CNW-Sales of new high-rise condominium suites stabilized in August while sales of new low-rise (single-detached, semi-detached and town-homes) homes spiked by a dramatic 163 per cent, resulting in a 62 per cent increase in total new home sales, August over August, the Building Industry & Land Development Association (BILD) revealed today. According to RealNet Canada [...]

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Housing starts are expected to decline to 141,900 for 2009, but increase to 150,300 for 2010, according to Canada Mortgage and Housing Corporation’s (CMHC) second quarter Housing Market Outlook, Canada Edition(*) report. “The decline in housing starts in 2009 can be attributed to several factors, including the current economic climate, increased competition from the existing [...]

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Declining housing starts will cut home builders’ profits by almost 20 per cent this year, according to the Conference Board’s Canadian Industrial Outlook: Canada’s Residential Construction Industry – Winter 2009. “Years of frenzied construction activity had left the market overdue for a correction,” said Valerie Poulin, Economist. “With demand for new homes waning across Canada [...]

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