The latest starts survey conducted by Canada Mortgage and Housing Corporation (CMHC) revealed that construction got under way on 1,852 dwellings in the Montréal census metropolitan area (CMA) in November, for a decrease of 19 per centfrom the same month in 2006. The slowdown observed in the condominium segment—the second in as many months—was solely to blame for the decrease recorded this past month, since the other market segments registered increases in activity. Read More
Archive for December, 2007
Don’t send a lame Holiday eCard. Try JibJab Sendables!
The residential resale market reached a record number of transactions in November (4,300), surpassing the 2004 record for the same month, during which 4,059 property sales were made in the Greater Montréal Real Estate Board’s (GMREB) MLS® system.
“Regarding the number of transactions in the MLS® system, the resale market will register its strongest growth since 2001 this year,” says Michel Beauséjour, FCA, Chief Executive Officer of the GMREB. “In a context where job creation is sustained, consumer confidence in the economy is solid and interest rates remain historically low, it comes as no surprise that the resale market is so strong.” Read More
The seasonally adjusted annual rateof housing starts was 227,900 units in November, essentially unchanged from 227,600 units in October, according to Canada Mortgage and Housing Corporation (CMHC).
“Housing starts remained strong in November and are consistent with our new home construction forecast for 2007,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “The strength in November is attributable to the good performance of single-detached home starts, which reached their highest level since March 2006.” Read More
