THUNDER BAY – Stagnant employment numbers are being blamed for sluggish residential construction in the Thunder Bay area.
New housing start numbers released by the Canada Mortgage and Housing Corporation show there was just 27 single family and multi-unit housing starts in July.
That’s down 50 starts when compared to July 2015.
CMHC market analysis Warren Philp says housing starts are down 17 per cent year-to-date in 2016.
Thunder Bay is sitting at 73 single-detached starts, which is down from the 82 reported by the end of July 2015.
For multi-unit homes, July 2016 saw 24, down from the 35 reported in that month in 2015.
Philp adds that the resale market is balanced as there is good supply of homes up for sale right now.
(TBT News)
