OTTAWA — The pace of home construction rose in February as builders started on more apartments and condos, but the industry continues to struggle under cost ...
OTTAWA — The pace of home construction rose in February as builders started on more apartments and condos, but the industry continues to struggle under cost pressures.
"As the national housing shortage continues, the focus for developers continues to shift towards multi-unit construction in Canada’s major centres,” said Bob Dugan, CMHC’s Chief Economist, in the release.Month-to-month starts can fluctuate significantly as the launch of larger multi-unit developments can skew numbers. Adjusted starts in February were up 79 per cent in Vancouver and down 31 per cent in Montreal.
CMHC and analysts have been expecting slower housing starts this year, as more difficult borrowing conditions and labour shortages affect the pace of building.
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