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Waterfront real estate and housing starts

Blog by Patricia Houlihan - Personal Real Estate Corporation | May 10th, 2007


How is the market doing? According to the Vancouver Sun May 8, 2007 B.C. housing starts fell by 11 per cent during the first four months of 2007 when compared to the first four months of 2006. This information came from the Canada Mortgage and Housing Corp.
CMHC attributed most of the decline to a 29-per-cent drop in single family housing starts; multiple family housing starts fell by just one per cent.   While this is the situation currently, the CMHC analyst said that homebuyer demand remains strong and she therefore expects housing starts this year will match 2006 levels.  I guess we'll have to wait and see....