2010 a strong year for home construction

With just a month to go in this year’s construction season, 2010 has proven to be a banner year for housing starts in Thunder Bay. 

The Canada Mortgage and Housing Corporation officially released its November numbers Wednesday. While the 14 housing starts of November are slightly below the 10-year average for the month, the area has now seen 191 new single-detached homes built this year. 

 CMHC market analyst Warren Philp said that puts the city on pace for our highest construction total in six years.

The 191 home starts amounts to a 20 per cent increase over 2009, which was a very slow year. 

Philp attributes the change to employment growth and immigration to the area’s recent change in fortune in the housing market.  

The CMHC is predicting a slight drop in home construction for the Thunder Bay area next year, but officials say the numbers should still be higher than the area’s 10-year average.