Home construction slowing in St. John's: CMHC
Housing starts are flat for November, and overall construction is down from this same time in 2014, according to the CMHC.
Housing starts in the St. John's metro area were flat in November, but the Canada Mortgage and Housing Corporation (CMHC) says the actual amount of construction activity was down compared to 2014.
- New home construction declines in St. John's, CMHC says
- Housing market in St. John's expected to flatline this year
In a release Tuesday, the CMHC said home construction in November was down 15 per cent compared to the same period last year.
The CMHC said that is just one glimpse at an overall trend in 2015.
"For the January to November period, total housing starts are 21 per cent lower than last year, mainly due to weaker economic growth continuing to pressure the housing market," said Chris Janes, a CMHC senior market analyst, in the release.