Housing Starts for December 2009 in Newfoundland CMHC Report
By R. Greg Osmond, MBA, Red Maple Realty
(Sutton Group-Capital Realty Ltd.)
Housing starts are still doing very well in Newfoundland according to Canada Mortgage and Housing Corporation (CMHC) report. Today's news release indicated that December housing starts totalled 201 in St. John's compared to 202 in December 2008. The total for the province in December were 223 compared to 226 in December 2008. Chris Janes, Senior Market Analyst with CMHC in Newfoundland and Labrador said, “The local residential construction industry remained buoyant throughout 2009 and ended the year off just nine per cent compared to 2008’s record pace. Despite weakness in the global economy in 2009, positive local economic and demographic factors continued to support stable residential construction activity within the St. John’s region, as well as in other urban centres across the p...
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