A new study from the Canada Mortgage and Housing Corporation (CMHC) has found that limited job and population growth are holding housing starts back in Greater Sudbury.
CMHC said housing starts in the area dropped at 331 units in January from 382 units in December. The report looked into the six-month moving average of the monthly seasonally adjusted annual rates of housing starts.
"There were no multi-unit home starts in January, which contributed to the fall in the trend of total housing starts,” said Aris Gianneskis, CMHC's Market Analyst for Sudbury.
“The limited growth in jobs and population in the Greater Sudbury CMA continues to be a drag on demand for housing, particularly new single-detached homes."
Meanwhile, the standalone monthly seasonally adjusted annual rates were at 203 units in January 201 – a notable decrease from 276 units in December.
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