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Home construction in the Edmonton census metropolitan area plunged 71.7 per cent in March compared with a year ago.
Work started on 135 homes of all types last month, down from 478 units in March 2008, say preliminary Canada Mortgage and Housing Corp. figures released Wednesday.
For the first three months of this year, housing starts in the region fell 67 per cent to 761, from 2,315 in the same period last year.
In single-detached homes, builders started 105 units in March -- down 49 per cent from the 205 started in March 2008. For the quarter, the total was 401, compared with 657 in the first three months of 2008, a 39-per-cent drop.
"Increases in monthly activity on a year-over-year basis are not expected until much later this year, and more likely in 2010," said Richard Goatcher, CMHC`s senior market analyst for Edmonton.
Read the full article here.
Work started on 135 homes of all types last month, down from 478 units in March 2008, say preliminary Canada Mortgage and Housing Corp. figures released Wednesday.
For the first three months of this year, housing starts in the region fell 67 per cent to 761, from 2,315 in the same period last year.
In single-detached homes, builders started 105 units in March -- down 49 per cent from the 205 started in March 2008. For the quarter, the total was 401, compared with 657 in the first three months of 2008, a 39-per-cent drop.
"Increases in monthly activity on a year-over-year basis are not expected until much later this year, and more likely in 2010," said Richard Goatcher, CMHC`s senior market analyst for Edmonton.
Read the full article here.