Housing Starts Up in Prince George Last Month

Tuesday, December 08, 2009 11:27 AM

Prince George, B.C. - Housing starts in Prince George last month showed an increase over November of 2008. According to Canada Mortgage and Housing Corporation (CMHC), the year to date starts are down about 23% compared to the same period in 2008.

Provincially, housing starts were down 18 per cent last month compared to November 2008.

“The number of completed and unoccupied new homes has been declining for several months. This, combined with a sustained up-tick in the resale home market, should spur new home building going forward,” said Robyn Adamache, Senior Market Analyst,

CMHC. “CMHC is forecasting a modest increase in housing starts in 2010.”

At the national level, housing starts increased with 158,500 units (SAAR) started in November, up from 157,400 units in October.

Housing Starts November '09 compared to November '08

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Posted on Tuesday, December 08, 2009 11:27 AM in News by 250 News

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Comments

Posted by: He spoke on December 8 2009 12:20 PM

I love these guys, especially those guys trying to find a little sunshine. its easy to compare it from a year ago.... hey wasn't the biggest economic crash in the last 60 years happen about a year ago.

So eyes wide open when the RRSP season starts. The TSE recovered about 50 to 60% since the begining of the year, so don't get fooled when they start chasing returns.

Posted by: gimmeabreak on December 8 2009 1:47 PM

Come now.....dont you think that a little more carpentry, plumbing, electrical, roofing,heating, painting, cement work,etc. etc....may actually be a good thing.

Ask the folks who do this kind of work if they are not pleased with a few extra housing starts....

As far as RRSP's...anyone who has them has seen recently that they are just about back where they were before the big fall...if one thinks about it hard enough......that may actually give a person a good feeling....you think??

Posted by: DPJ on December 8 2009 6:01 PM

The monthly comparison from last year to this year shows an over all better situation. November 2008 was the first true month that the recesion was truely felt in stats like housing. Unemployment stats tend to drag 6 to 12 months behind what is actually happenning. Good to see an upward trend in housing.

Posted by: Harbinger on December 8 2009 8:09 PM

No housing starts on lower Tyner. Does that bring the average down? Ha ha ha .

Posted by: commoner on December 8 2009 8:34 PM

Upward trend? I disagree. The month to month comparison does show an increase but that is misleading information. The more accurate picture is the year to year projection. There are 38 fewer homes built compared to last year. I would not call that an increase in home builds.

“CMHC is forecasting a modest increase in housing starts in 2010.” Based on what and where geographically exactly? Month to month forecasts? The beat the HST rush? If the total home builds come 2010 surpass the total home builds for 2008 or 2009, then one could call that an increase. I think we should and can expect a further DECLINE not an increase. Based on the numbers provided, I think the CMHC is out to lunch with their "modest" forecasting.

Posted by: obiwan on December 8 2009 11:02 PM

Keep your eyes on lower Tyner. You just might see a couple housing starts this month or next!

Posted by: Loki on December 9 2009 1:47 PM

breaking ground during the deepest snow and coldest part of the year?

Posted by: DPJ on December 10 2009 2:14 PM

in a few months will be a better indication of the 3 months average compared to last year. Also a running 12 month average (nov to oct comparison then jan to oct) is a better indication.

About the tyner subdivision, if those 2 damm houses there can be finished, the subdivision would be more attractive to buyers. The new subdivision just up from this one on the other side of Ospika towards the university already has 2/3's of the lots sold already and its more isolated.