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A New Sales Record Has Been Achieved By The Jackie Goodlet Team Who Work Out Of The Whitby Office And Specializes In High End Resale And New Home Sales. According To Broker Dave Pearce The Jackie Goodlet Team Wrote More Transactions Than Anyone Else In The 30 Year History Of Our Firm. Their 255 Transactions Had A Total Volume Of More Than $185,000,000 (185 Million). With Over 25 Years Experience In The Business The Jackie Goodlet Team Has Acquired A Wealth Of Knowledge In All Areas Of Real Estate Including Resale, New Builds, Cottages, Lease, Condos, Vacant Land, Investment And Commercial Properties. With Exceptional Negotiating Skills We Are Confident We Can Save You Time And Money On All Your Real Estate Endeavours. We Look Forward To Hearing From You And Your Referrals Are Always Welcome And Rewarded!

Tuesday, June 9, 2020

CMHC: Weaker housing starts placing supply at risk

As indicated by the Canada Mortgage and Housing Corporation’s monthly starts survey, the rate of new supply nationwide is on a sustained decline, with British Columbia and the Prairies being particular trouble spots.

Excluding Quebec – as construction resumed only on April 20 – the national housing starts trend was 151,072 units in May, down from 155,600 units in April 2020.

“Higher multi-family starts in Ontario and the Atlantic provinces were offset by declines in British Columbia and the Prairies. We expect national starts to continue to register declines in the near term, reflecting the impact of COVID-19 measures,” said Bob Dugan, chief economist at CMHC.

Last month, BC posted a 33% year-over-year shrinkage in housing starts, while the Prairies saw a similarly concerning 23% drop.

These trends followed a month of significant decreases in the value of building permits issued by Canadian municipalities. The value dropped by 17.1% on a month-over-month basis to end up at $6 billion in April.

Statistics Canada reported that the total value of residential permits fell in nine provinces in April, declining by 14.2% to $3.9 billion. Single-family dwellings, in particular, saw much lowered value (down 35.9% to $1.4 billion).

MBN

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