Slow Spring Hampers Housing Starts in Thunder Bay

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Thunder Bay Housing Starts
Thunder Bay Housing Starts
Thunder Bay Housing Starts
Thunder Bay Housing Starts

THUNDER BAY – The slow start to spring, coupled with last season snowfalls are likely the cause of lower housing starts in Thunder Bay through March.

Housing starts activity continued slow in March with only one single-detached being recorded according to preliminary data released today by Canada Mortgage and Housing Corporation. Year-to-date single-detached starts now total eight units, down 27 per cent from last year’s first quarter total.

“Singles starts in March have averaged only 1.5 units over the last ten years so one unit for the month is not entirely uncommon,” observed Warren Philp, Northern Ontario Market Analyst with CMHC. “Similarly, Thunder Bay’s eight single-detached units started for the first quarter is only one unit shy of the 9.2 unit 5 year average over the first quarter of the year,” summarizes Philp.

Cool temperatures and late snowfalls are contributing to the slow start to the building season. Starts of semis, rows and apartment units are also weak with no starts to the end of March compared to two semi-detached starts last year.

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