Canada Mortgage and Housing Corp. has tempered its rosy outlook for Red Deer’s residential construction sector, but continues to forecast an increase in housing starts both this year and next.
The national housing agency is now projecting that there will be 605 housing starts in the city this year: 330 single-detached homes and 275 units in multi-family projects.
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Housing starts in the Calgary Census Metropolitan Area (CMA) were trending at 11,622 units in January, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of total housing starts.
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The Canada Mortgage and Housing Corporation predicts lower demand will lead to a slowing in housing starts this year compared with 2012, with average prices to be little changed.
In its first-quarter forecast released Friday, the national housing agency’s mid-point prediction for starts is 190,300, which would be down 11 per cent from 2012’s 214,827.
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Construction of single-family homes in Calgary soared last month compared to a year earlier, according to new statistics.
There were 441 construction starts in the Calgary census metropolitan area in January, up 31 per cent from the same time in 2012, according to a recent report from Canada Mortgage and Housing Corp.
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While recent statistics from the Canadian Mortgage and Housing Corporation (CMHC) show a decrease in single-family developments in Grande Prairie, the market is anything but slowing.
Single-detached home starts in January dropped 36% from 2012 to 2013 – 14 and 9 respectively – but multi-family dwelling starts are up close to five times the 2012 total.
In January 2012, there were two multi-family dwelling starts, while in 2013, there were nine.
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CALGARY — Calgary region housing starts dipped slightly in January compared with a year ago, according to Canada Mortgage and Housing Corp.
The agency said Friday that total starts in the Calgary census metropolitan area of 719 units for the month were down from 786 in January 2012.
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Data being used to set earning limits for rental subsidies in Okotoks is inaccurate according to local housing officials who say changes are needed.
The Provincial government uses rental market data from the Canadian Mortgage and Housing Corporation (CMHC) to help determine whether someone can qualify for a rental subsidy in Okotoks.
Foothills Foundation CAO Lauren Ingalls said CMHC’s fall 2012 rental market report doesn’t accurately reflect the realities in Okotoks because the organization only looked at 112 apartments for its survey. It did not look at properties such as houses, condos or basement suites being rented out.
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The Medicine Hat area saw an 89% increase in new home construction last year. The Canada Mortgage and Housing Corporation (CMHC) released its latest numbers on Wednesday. Garry Ruff, President of the local chapter of the Canadian Home Builders Association (CHBA), believes the increase is due to builders and the industry having more confident in what’s happening around Medicine Hat.
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CALGARY — Housing starts in the Calgary region in 2012 were well above 2011 levels, rising by 38 per cent on an annual basis, according to Canada Mortgage and Housing Corp.
The agency said Wednesday that total starts in the Calgary census metropolitan area jumped to 12,841 units last year. The single-detached market saw a 17 per cent hike to 5,961 units while the multi-family sector rose by 63 per cent to 6,880 units.
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It was a sweltering afternoon in July, 2006, and David Dodge was meeting with executives at Canada Mortgage and Housing Corp. in Ottawa, in search of the answer to a pressing question: Why were they lowering their standards in such a reckless fashion?
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