October Housing Starts Tumble
The Canada Mortgage and Housing Corporation reports a 34% drop in the number of housing starts in the Windsor Census Metropolitan Area last month.
Following six months of consecutive increases, construction began on 61 homes compared to 76 in October 2013.
The year-to-date numbers still show an increase so far in 2014. Ground has broken on 651 homes so far, compared to 565 by this time last year, an increase of 15%.
Despite a 9% drop in October compared to the same month a year ago, nationally the year-to-date increase remains steady at 2%. Across the province, housing starts fell 26% last month and are off 5% so far this year.