Number of new Hamilton houses built increases for month of June
Analysts attribute warm temperatures, increased demand for townhouses to the growth
Housing starts were trending up in Hamilton for the month of June after seven straight months of decline.
The Hamilton census metropolitan area had 1,497 units in June, one hundred more than the number of houses built in May, according to the Canada Mortgage and Housing Corporation (CMHC). The Hamilton CMA includes Burlington and Grimsby.
Market analyst Abdul Kargbo said in the release that the growth was due a rebound in townhouse starts.
Warmer temperatures and a pickup in demand of multi-unit dwellings increased the sales of townhouses, both pre-existing and new, Kargbo continued.
These trends are calculated through seasonally adjusted annual rates, data which attempts to remove the seasonal affects of house sales.
This announcement comes after a May report from the CMHC said home sales in Hamilton will decline this year and into 2016.