Thursday, August 9, 2012

Housing Starts Up Again

The number of housing starts in Thunder Bay continues to be above normal. Canada Mortgage and Housing Corporation says there were 42 total Thunder Bay starts in July surpassing July of last year. 28 homes, 2 duplexes and 12 condominium starts were reported last month which beats the 34 starts compared to last year during the same time period. Market Analyst for C.M.H.C. Warren Philp says "Rising prices in the resale market are encouraging more denser forms of housing construction that offer more choice to consumers."