Wednesday, April 8, 2009

Home Construction numbers up

The pace of new home construction picked up last month in spite of some who expected the slide to continue according to sources at Canada Mortgage and Housing Corporation today.

Further good news for Ontario residents in that most of the increase stemmed from a large increase in condominiums in Ontario and Quebec. These urban multiple housing starts rose
by 28.3 % and construction of new single homes also increased by 1.3 % in March. This news comes as economists had expected home building to pull back again in March.

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