Bad weather housing causes starts to decline in Halifax: CMHC

According to the Canada Mortgage and Housing Corporation (CMHC), there was a 46% drop in new residential construction in Halifax. Housing starts totalled 158 in February for the region, compared to 292 a year earlier. The trend was similar in both single-detached and multiple-detached starts.

The Chronicle Herald picked up on the sharp drop in a story this week, but found few in the local industry were concerned by the results, or monthly trends in general.

A CMHC analyst quoted in the article attributed the decrease at least in part to bad weather. A few bad weeks can make a major difference in Halifax, analyst Matthew Gilmore said.

The CMHC is predicting a more balanced year going forward in Halifax. Still, new home construction will drop another 10%, but apartment construction will rise 10%.

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