* Starts are seen at 160,250 units for 2009
* Would be first time below 200,000 in seven years
* Existing home sales, prices also seen falling
* Slight rebound seen in 2010
(Adds details)
By Ka Yan Ng
TORONTO, Feb 19 (Reuters) – New home construction in Canada is expected to drop by 24 percent this year as part of [...]
Moishe Alexander’s Review
OTTAWA, March 9, 2009 — The seasonally adjusted annual rate1 of housing starts declined to 134,600 units in February from 153,500 units in January, according to Canada Mortgage and Housing Corporation (CMHC).
“Increased listings and reduced sales in the existing home market continue to impact the new home market,” said Bob Dugan, Chief Economist [...]
Moishe Alexander Says:
The seasonally adjusted annual rate of housing starts declined to 153,500 units in January from 172,200 units in December of 2008, according to Canada Mortgage and Housing Corporation (CMHC).
“To a certain extent, the decline in housing starts coincides with recent developments in the existing home market. Reduced sales and increased listings in the [...]