Monday, March 9, 2009
- Pace to decline - Calgary Herald
There will be more than 18,000 fewer single-detached homes built in Canada this year than in 2008, predicts a federal agency. Work is forecast to start on 74,825 homes, down from 93,202 last year, says Canada Mortgage and Housing Corp. But 2010 will be slightly better, with starts expected to check in at 76,600, it says. Starts of all kinds will likely slide to 160,250 this year, down from 211,056 last year, before improving to 163,350 in 2010. In Alberta, construction is expected to start on 19,200 homes this year, down nearly 10,000 from 2008, says CMHC. With a bit of economic strengthening in 2010, builders are forecast to start work on 22,000 housing units of all types.