Posted May 11, 2009
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Kitchener CMA Housing

APRIL HOUSING STARTS IN KITCHENER

TORONTO – Canada Mortgage and Housing Corporation (CMHC) released preliminary housing starts data for the Kitchener Census Metropolitan Area (CMA). Construction began on 126 homes in April, down from the 252 units started in the same month last year.

A total of 88 single-detached homes were started in April, up from the 84 units started in April 2008, while semi-detached, townhouse and apartment starts were down from the same month last year. Cambridge was the only municipality to record higher starts. Although townhouse construction has increased in the first four months of 2009, total housing starts were down more than 30 per cent.

“With a high level of apartment units under construction currently, builders have had fewer resources to bring planned apartment projects to the construction stage in the early months of 2009,” said Erica McLerie, Senior Market Analyst for the Kitchener CMA. “In addition, single-detached starts are lower since many potential buyers can find the home they are looking for in the well-supplied existing home market,” noted McLerie.

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