According to Canada Mortgage and Housing Corporation (CMHC) housing starts were 217,800 units in June.
"Total housing starts remain at high levels," said Bob Dugan, Chief Economist at CMHC's Market Analysis Centre. "This is mostly due to the multiple segment which has been continuously above the 100,000 unit threshold since the beginning of the year."
The seasonally adjusted annual rate of urban starts went down in all regions of Canada, except Ontario, where housing starts increased by 10.8 per cent to 77,900 in June.
Urban starts declined to 8,500 units in Atlantic Canada, 40,300 units in Quebec, 31,200 units in the Prairies, and 31,400 units in British Columbia. Both single and multiple urban starts decreased in all regions in June, with the exception of multiple starts in Ontario which increased by 30 per cent.
Don't hold your move if you want to invest in Toronto, Ontario real estate or want to buy a house or condo apartment. For more information go here - http://www.torontogreathomes.com/ or call Alex at (416) 723-9383 (cell).
Alexandre Malkhassiants, Sales Representative & Mortgage Specialist,
Right At Home Realty Inc., Brokerage
Office: (416) 391-3232
Cell: (416) 723-9383
E-mail: amalkhass@rogers.com
Web site: www.torontogreathomes.com
Toronto real estate market blog: http://torontorealestate.wordpress.com/
centremagazine.com
How much is your home worth? Well, it all depends where you live.
ReplyDeleteThe real estate market is still shaking. New data suggests that home prices have hit a new record low. In every new study that comes out, homeowners from Miami, to Las Vegas, Phoenix and Los Angeles, have seen their home value go lower every time.
Is that disappointing? Of course it is.
Should we sell? Is not a good time.
Should we stick to it? Yes, if you can.
Have we hit bottom? Nobody knows.
Banks are facing their worst foreclosure crisis.
Don’t take me wrong, it’s good if you are in the market to buy a home for yourself or if you are an investor, but if you are not, and you own a home, most likely the value of your property is down at least 15 %.
Why do banks care if you are loosing your home? By having to sell repossessed homes, banks have to literally slash their prices down. It gets very costly for them, after all, they have to pay property taxes, maintenance costs, and whatever utilities that need to be paid, all of this expenses for a house that it’s just sitting there, vacant, and the bank is getting nothing in return.
The latest study by the S&P/Case-Shiller Home Price Index of 20 cities, revealed the news that for 22 consecutive months home prices dropped. Only from April to May, 2009 the decline was of 0.9 %
I wished I was over there... here in California, I submitting lots offers but none of them are closing.
ReplyDeleteCustom built homes are the best way to go in my opinion. That way you get exactly what you want from your new home and you won't need to spend all of that extra money on remodeling.
ReplyDelete