Skip to content

Analyst predicts robust year for new home market

Housing starts in Greater Sudbury were on the rise last month, reaching levels not seen since April of 2002.
Housing starts in Greater Sudbury were on the rise last month, reaching levels not seen since April of 2002.

According to the Canada Mortagae and Housing Corporation (CMHC), there were 31 single-detached starts in April, nearly twice the ten year average for new starts and 35 percent higher than 2005.

"All indications point to another robust year for Sudbury's new home market," said Warren Philp, a Northern Ontario market analyst with CMHC, in a news release.

Philp said 52 starts have been recorded so far this year are 27 higher than the first four months of 2005. He credits the strong demand for new homes to a limited resale market.


Comments

Verified reader

If you would like to apply to become a verified commenter, please fill out this form.