Data released on Monday by the Canada Mortgage and Housing Corporation (CMHC) showed an increase in housing starts in May, and revised figures show better levels for April.
Overall, the housing market is roughly in line with last year and still lower than 2012 – the ‘soft landing’ we’ve been expecting.
Although increasing figures are good to see, they should be taken in the context of the harsh winter and its effect on construction, with the better weather providing conditions to catch up on lost time. Single detached housing saw the main growth, condos slipped back.
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