Oshawa has recorded a dip in its housing starts from 1,908 in February to 1,706 last month, according to the Canada Mortgage and Housing Corporation (CMHC).
Real estate investing in the area may be slightly hurt as the trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts. All housing types also saw a slowdown, the Northumberland View reported.
"Construction activity was unusually low in March in the Oshawa CMA, mainly due to a pullback in single-detached home starts. Despite the decline, lower house prices in Oshawa relative to the rest of the GTA will continue to attract many homebuyers and more starts are expected as the year progresses," said Dana Senagama, CMHC's principal of Market Analysis for the GTA.
Moreover, Oshawa’s standalone monthly SAAR was 551 units last month, a decline from February’s 1,896.
Real estate investing in the area may be slightly hurt as the trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts. All housing types also saw a slowdown, the Northumberland View reported.
"Construction activity was unusually low in March in the Oshawa CMA, mainly due to a pullback in single-detached home starts. Despite the decline, lower house prices in Oshawa relative to the rest of the GTA will continue to attract many homebuyers and more starts are expected as the year progresses," said Dana Senagama, CMHC's principal of Market Analysis for the GTA.
Moreover, Oshawa’s standalone monthly SAAR was 551 units last month, a decline from February’s 1,896.
