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New home construction slows
WINNIPEG — The pace of new home construction slowed for the second consecutive month in July, Canada Mortgage and Housing Corp. said today.
The federal agency said 311 new single- and multi-family housing units were started last month in the Winnipeg Census Metropolitan Area (CMA). That was a drop of 26 per cent from the 419 started in July 2011.
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The two-month slide — starts were down 6.1 per cent in June — followed 80.7 per cent spike in home-building activity in May.
The CMHC numbers show July’s decline was concentrated on the multi-family side of the market, where starts were down 65 per cent to 77 units from 223 a year earlier. The number of single-detached starts jumped by 19 per cent to 234 units from 196.
CMHC said the pace of new-home construction also slowed at the national level in July, dropping to an annualized rate of 208,500 units from 222,100 in June.
murray.mcneill@freepress.mb.ca
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