However, Right at Home Realty President John Lusink urges Canadians to keep expectations at bay: “We are just so far short of being able to satisfy real demand.”Canadian homebuilding started the year on a sluggish note, with housing starts slipping 10% between December and January. But February more than made up for that decline.put out Friday by Canada Mortgage and Housing Corporation , starts for all areas across the country shot up 14% last month with 253,468 units breaking ground.
CMHC also reported that starts across urban centres — characterized as those with populations of at least 10,000 — saw an annual rise of 11% to 17,495 units in February. The year-over-year increase was driven “solely” by higher multi-unit starts, which were up 16%, said CMHC. Meanwhile, single-detached starts fell 14% in the month
“We are just so far short of being able to satisfy real demand,” Lusink tells STOREYS. He adds that February’s reading may have more to do with the weather — which has been unusually conducive to construction — than the health or heartiness of the building sector. Meanwhile, on the low-rise side, Lusink reckons the slide in starts has a lot to do with affordability and the remarkably sluggish year we've just had for home sales.
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