New home construction remains steady

Staff ~ The Telegram
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Urban housing starts held steady during the month of November, according to Canada Mortgage and Housing Corporation (CMHC).
November's housing starts totalled 176 throughout the St. John's metropolitan area versus 173 starts last year.
An additional 12 starts were recorded in other urban areas across the province, bringing the provincial total to 188 housing starts compared to 196 in the November 2008.
"St. John's area housing starts held steady relative to last November, posting a small increase of two per cent, with year-to-date starts off ten per cent compared to 2008's accelerated pace," said Chris Janes, senior market analyst with CMHC in Newfoundland and Labrador, in a release.
"Employment, income and population growth continues to support residential construction activity throughout the St. John's region."

Organizations: Canada Mortgage and Housing Corporation

Geographic location: St. John's, Newfoundland and Labrador

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