Slow Spring Doesn’t Slow April Housing Starts

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Housing Starts

Housing StartsTHUNDER BAY – Housing starts activity picked up April in Thunder Bay CMA with seven single-detached units breaking ground according to preliminary data released today by Canada Mortgage and Housing Corporation. The seven units were one unit ahead of the ten year average for singles starts. Year-to-date single-detached starts now sit at 15 units, one unit back of last year’s count for the same period.

“Despite expectations for an improved year in the multifamily house segment, no semi, row or apartment starts have broken ground yet in the CMA,” noted Warren Philp, Northern Ontario Market Analyst with CMHC.

“A tight resale market should translate into more new home activity, especially as the weather begins to warm up given the unseasonably cool spring,” suggested Philp.