March 15, 2010
According to Statistics Canada, housing sales and construction both continued the trend of increasing numbers. December’s existing home sales set a new record, with a two per cent gain, lifting year-over-year growth to 72 per cent. Housing starts rose six per cent to 175,000 units (at annual rates), the highest level of the year. Ground-breaking on single-family homes posted an eighth straight increase in response to higher sales of new homes, a shrinking inventory of unsold homes and rising new house prices across the country, all positive signs for the coming season.