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09

Canadian Home Builders Are on Pace for Best Year Since Recession

By Tony Seruga

Home starts unexpectedly rise to annualized 222,324 units
Condo construction in Toronto, Montreal and Vancouver surge

Canadian home construction is on pace for its best year since the 2008-2009 recession, with builders showing no sign of being slowed by rising interest rates or fears of a housing correction.

Work began on an annualized 222,324 homes in July, the third-fastest monthly pace since 2012, the Canadian Mortgage and Housing Corp. reported Wednesday. Starts have averaged about 215,000 in 2017, which puts the industry on track for the most new residential construction since 2007 if the current pace continues…

Canadian Home Builders Are on Pace for Best Year Since Recession

Categories : Real Estate

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