The seasonally adjusted annual rate1 of housing starts increased to 128,400 units in May from 117,600 units in April, according to Canada Mortgage and Housing Corporation (CMHC).
"The increase in May is broadly based, encompassing both the singles and multiples segments," said Bob Dugan, Chief Economist at CMHC's Market Analysis Centre.
Housing starts are expected to improve throughout 2009 and over the next several years to gradually become more closely aligned to demographic demand, which is currently estimated at about 175,000 units per year.
Some bright spots in our economy when we see increasing in housing starts. Do REALTORS® list and sell new houses? You bet we do. We have established relationships with many of the builders in Central Alberta. In fact Red Deer real estate listings on the MLS® system that are presently listed as "new" or built in 2009 total 34 active listings. So far we have 14 sales in the City of Red Deer for homes that are built in 2009. 28% of those were listed with Century 21 Advantage.
Your Friend in Real Estate,