Economic Indicators: Housing Starts Down 58% In December

By January 6, 2013Economic Indicators

Housing starts in the Abbotsford-Mission CMA were down 58 percent in December over last year according to figures released by Canada Mortgage and Housing and 31 percent lower for the whole year.

The statistics show that in December of 2012 only 8 single family detached homes were built in Abbotsford-Mission compared to 18 in December of 2011 down 56 percent. The All Other category dropped 67 percent from 6 in December 2011 to 2 in December 2012.

Figures for January to December 2012 were down in Abbotsford-Mission by 31 percent over dropping from 537 in 2011 to 371 in 2012. The drop in single family detached homes from 2011 to 2012 was 19 percent (from 245 to 198) and for All Others 41 percent (291-173).

Housing starts, along with other economic indicators including building permit values, real estate sales and unemeployment have been on a steady downward trend throughout 2012.

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To see all of the CMHC statistics Click Here.

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