Thunder Bay Housing Starts Up

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THUNDER BAY – June’s thirty-three single-detached starts combined with the 29 from April and May brought the second quarter 26.5 per cent ahead of the five-year-average for the same three months, according to preliminary data

released today by Canada Mortgage and Housing Corporation.

Meanwhile, year-to-date starts stood at 73 units, up 52 per cent from 2009.

“The 62 singles starts for the quarter combined with the eleven in the first quarter are more reminiscent of high construction years such as 2007. Year-to-date, multi-family housing construction is off of 2009 but only in a minor way,” stated Warren

Philp, Northern Ontario Market Analyst with CMHC.

“Lot sales have been brisk in a few of the key subdivisions in Thunder Bay over the last nine months which should lead to a busy second half of the year,” concluded Philp.