The number of new homes being built in the city continue to fall further and further behind last year’s pace.
After August, construction has started on 131 new houses in Grande Prairie, 40 per cent of the 325 we saw by this point last year. Only 10 singles and 10 multiple family homes got going last month, far below the 53 and 37 last August.
A market analyst for Canada Mortgage and Housing Corporation says they’re seeing the same trend in Edmonton, due to slower growth in employment, less people moving to the city, and competition from the resale market.
