November 26, 2020, by Sean MacKay
According to data published by the Canada Mortgage and Housing Corporation (CMHC), housing starts for single-detached homes and semi-detached homes rose 14.2% and 29.4%, respectively, last month.
TD Economist Rishi Sondhi said that the strong performance suggests that home builders are “reacting to the outperformance in detached home sales observed during the pandemic.”
Home building across the province has remained resilient through 2020, with housing starts from January to October up over 15 percent compared to the same 10-month period last year.
What does this mean?
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