Posts Tagged ‘housing starts’
August new home sales up 62 per cent
Posted by: editors note in First time home buyers, Real estate industry news, Real estate market updates on September 22nd, 2009
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 Inc., there were 3,074 new homes and condos sold in the Greater Toronto Area in August, 2009. Monthly high-rise sales were up for the first time this year, albeit very modestly, while low-rise unit sales continued on the exceedingly hot pace of the last several months.
Housing activity will moderate in 2009, improve in 2010
Posted by: editors note in First time home buyers, New Homes and Condos, Real estate industry news, Real estate market updates on May 28th, 2009
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.
Home builders’ profits to fall by 20 per cent in 2009
Posted by: editors note in First time home buyers, New Homes and Condos, New home builders, Real estate industry news, Real estate market updates on March 12th, 2009
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 due to poor economic conditions, the market drop-off appears to be more severe than expected. Even the federal government’s budget measures to stimulate the industry are expected to have only a mild impact in the short term.”
