Housing Starts Showing Momentum
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Monday, November 09, 2009 10:28 AM
Prince George, B.C.- According to Canada Mortgage and Housing Corporation (CMHC), October was another encouraging month for housing starts.
In B.C. some 892 new residential homes were started, the second highest number of starts this year. Surrey led with a total of 383 housing starts, followed by
Coquitlam where foundations were poured for 139 new homes.
“Even though year-to-date numbers for 2009 are still far below those recorded in 2008, the momentum of increase over the past three months is heartening. Single-detached home
construction continues to show strength, especially in Surrey. We are beginning to see a return of some larger scale multiple-unit residential projects, which were virtually absent
during the earlier part of this year”, said Robyn Adamache, Senior Market Analyst, CMHC. “CMHC is forecasting a modest increase in housing starts in 2010.”
In the Abbotsford CMA, there were 298 starts from January to October compared to 1,235 in the same period last year.
Urban B.C. home starts jumped to 16,100 units, seasonally adjusted at annual rates (SAAR) in October, compared to 14,000 in September.
At the national level, housing starts also regained some ground with 157,300 units (SAAR) started in October, up from 149,300 units in September.
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Comments
Posted by: NMG on November 9 2009 12:11 PMThere's never been a better time to buy! There's never been a better time to sell! I'm confused, LOL :)
Posted by: Stompin Tom on November 9 2009 12:24 PMTypical spin doctoring.
Headline:
Housing Starts Showing Momentum
Headline should be:
Housing starts down 17,325 from previous year.
Yeah, BC is out of the recession.
Headline:
Housing Starts Showing Momentum
Headline should be:
Housing starts down 17,325 from previous year.
Yeah, BC is out of the recession.
Posted by: Stompin Tom on November 9 2009 12:24 PMcome to think of it, they didnt say which way the momentum was, maybe I read it wrong.
Posted by: Harbinger on November 9 2009 1:23 PMI will believe it when I see it. Especially in a certain subdivision on Tyner that will remain nameless.
Posted by: Runner46 on November 9 2009 6:42 PMharbinger
don`t focus on just one....
by the way, the turn has already happened.....
don`t focus on just one....
by the way, the turn has already happened.....
Posted by: DPJ on November 9 2009 11:22 PMThe subdivision which Harbinger means is the one with the two ghost houses??? Should of had a city haloween party there.
Posted by: Stompin Tom on November 10 2009 9:06 AMThat "certain subdivision" on Tyner is tied up in red tape, they cant do anymore building until a few details are cleared up. It appears there was development work done on the property more than 20 years ago, sewer and water lines put in which at first were deemed to be ok, then they failed inspection. The courts will probably deceide that one.
Posted by: CaringSoul on November 10 2009 11:49 AMI feel sorry for those people who can not finish building their houses. The wood on the one looks wet and weathered already. The other had all its windows broken out. It is a scary thing to buy a house in the first place never mind this kind of stuff being piled on to it. My heart goes out to these people.
Posted by: Runner46 on November 10 2009 1:14 PMI am concerned about some of the comments on this posting. They are totally incorrect. The City has approved the development of the sub-division. There is no red tape..........period. All standards meet or exceed the standards of the City.
Yes, there are problems with one of the foundations but that will be rectified. As for the rest of the area, it is a well layed out and the properties will sell.
The "market" will make the decision as to value.
Yes, there are problems with one of the foundations but that will be rectified. As for the rest of the area, it is a well layed out and the properties will sell.
The "market" will make the decision as to value.
Posted by: Runner46 on November 10 2009 1:15 PMI am concerned about some of the comments on this posting.They are totally incorrect. Phrases like "it appears" are trite at the best of times. The City has approved the development of the sub-division. There is no red tape..........period. All standards meet or exceed the standards of the City.
Yes, there are problems with one of the foundations but that will be rectified. As for the rest of the area, it is a well layed out and the properties will sell.
The "market" will make the decision as to value.
Yes, there are problems with one of the foundations but that will be rectified. As for the rest of the area, it is a well layed out and the properties will sell.
The "market" will make the decision as to value.
Posted by: CaringSoul on November 10 2009 3:46 PMNew housing starts will show another rush until the new HST. After that ....we shall see.
Posted by: HD on November 10 2009 6:46 PMDon't list your home with real estate people.
Sell it yourself!
Why pay somebody 20,000 plus for doing nothing?
Sell it yourself!
Why pay somebody 20,000 plus for doing nothing?
Posted by: Runner46 on November 10 2009 8:03 PMhd
rather a narrow view don`t you think. I have used those people for four houses....
rather a narrow view don`t you think. I have used those people for four houses....
Posted by: HD on November 11 2009 8:44 AMYou used them for four houses?
And that's enough reason for others to waste money on real estate people? Just because y o u used them?
Get real. I never used them and have sold 12 houses over the last 33 years. Real estate people are lazy and want you to sell fast and lower your prices in order to collect their commission sooner.
They are in the same group as used car sales men.
And that's enough reason for others to waste money on real estate people? Just because y o u used them?
Get real. I never used them and have sold 12 houses over the last 33 years. Real estate people are lazy and want you to sell fast and lower your prices in order to collect their commission sooner.
They are in the same group as used car sales men.
Posted by: Andyfreeze on November 11 2009 10:31 AMInsisting that people need to use a realtor to sell their homes/property is a myth spun by realtors.
They charge too much,plain and simple.
And they don't have to...a percentage drop of a couple of points would still allow them to make damn good money.
The seller also has the power...if they are not willing to cut you better deal,don't use them.
Because the next realtor will.
I have also learned first hand the hard way not to trust them too much.
Many realtors will price your home low to get a quick sell.
You call the shots,don't let them control the deal.
They charge too much,plain and simple.
And they don't have to...a percentage drop of a couple of points would still allow them to make damn good money.
The seller also has the power...if they are not willing to cut you better deal,don't use them.
Because the next realtor will.
I have also learned first hand the hard way not to trust them too much.
Many realtors will price your home low to get a quick sell.
You call the shots,don't let them control the deal.
Posted by: Runner46 on November 11 2009 11:18 PMAndy Freeze ...excellent comments. I agree with you 100 %
