2013-01-09 at 11:47
Big 2012 for housing construction shows no sign of slowing in 2013: CMHC
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THUNDER BAY -- This area has finished its second consecutive strong year for housing starts.
Statistics from the Canadian Mortgage and Housing Corporation shows there were 380 housing starts recorded in the Thunder Bay area in 2012.
CMHC Market analyst Warren Philp says single-detached dwellings were particularly strong this past year.
"Single-detached starts up from 188 last year represents only the third time in the last 18 years that starts have topped 200 units," Philp said during an interview with CKPR Radio Wednesday.
A total of 227 single-detached starts were recorded in 2012, which Philp says is the strongest year since 2004 when 241 starts were recorded.
Philp added that he sees no signs that would indicate that the market will slow down in 2013.
"We still have this tight supply situation," he said. "One could say that the market could have been stronger in terms of sales if we would have had more product.
"So, I don't see that tight situation really changing drastically in 2013."
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