Listen Live
HomeNewsHousing starts drop for third month straight

Housing starts drop for third month straight

Construction on multi-family homes in Grande Prairie dropped by 90 per cent last month. Work got started on only two, while there were 20 last June.

Single family home starts were also down by almost 50 per cent, leading to the third month of decline in a row. However, the Swan City is still well ahead of last year’s pace, with 140 housing starts through the first half of 2016. 2015 saw 111.

The Edmonton area is also seeing a drop, which Canada Mortgage and Housing Market Analyst Tim Gensey attributes to the slow economy and more homes on the market.

Canada as a whole is seeing a major drop in multi-family home starts like condos, and saw numbers down overall by more than 13 per cent last month.

- Advertisment -
- Advertisment -
- Advertisement -

Continue Reading