new home construction: February Housing Starts St. John's Newfoundland Slows To A Balanced Market - 03/09/09 06:07 AM
Housing starts for February 2009 have declined in St. John's, Newfoundland by 12% as compared to the February 2008 stats, according to a market report from CMHC.  The senior market analyst Chris Janes indicated that this decline compares favourably to that of a 59% pull back in urban Canada.  

According to Mr. Janes, the decline in St. John's has allowed builders to catch up from the strong demand of 2008 which kept them behind for most of the year.  He said, new home construction in Canada is slowing to more sustainable levels and is forecast to be 160,000 units for 2009.
On the surface one might expect this moderation of … (0 comments)