CALGARY— Short-term expectations for housing starts in the Calgary region are positive, according to the Conference Board of Canada.
The board said Monday that in the Calgary census metropolitan area in September the seasonally-adjusted annual rate of new home construction was 11,022 units. That was up from 8,846 a year ago.
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Housing boom? Not yet, but anybody who plays the stock market knows, you get in before the boom, not during it.
That is why the stocks of the home builders [XHB 24.535 -0.205 (-0.83%) ] are up triple digits from a year ago, as housing starts slowly rise from the ashes. But investors, if they believe in this recovery, should be looking beyond the builders to the more than 30 sectors that benefit directly from housing.
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Construction starts of all housing types in Calgary soared in September compared to the same time last year, says a federal agency.
There were shovels in the ground for 1,012 homes last month, up 26 per cent from 810 starts during September last year, says Canada Mortgage and Housing Corp.
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Canada Mortgage and Housing Corporation released this week housing start statistics for September and Lethbridge is up slightly.
The city saw 48 single-detached housing starts last month, compared to 40 at the same time last year. All other starts, including multi-family, were at only 4, half of what it was last September, bringing total starts to an increase of only 4.
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CALGARY— Tighter mortgage rules have been cited recently as reasons for a slowing down housing market in Canada, particularly in major markets like Toronto and Vancouver.
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