Resale Housing Market Stronger in Thunder Bay

173

THUNDER BAY – “The five single-detached home ownership units are one unit off last April. However, as the spring progresses, expect an increasing growth of housing starts around subdivisions in the city,” according to CMHC’s Market Analyst Warren Philp.

“The resale market appears to be strengthening, following a quieter year in 2009. This bodes well for the new construction market going forward,” added Philp.

Five single-detached starts, combined with 11 in the first quarter, improved single family housing starts in Thunder Bay CMA this year, according to preliminary data released today by Canada Mortgage and Housing Corporation (CMHC). The sixteen singles combined with two semis help the region to post a 6 per cent growth for the first four months.