CMHC reports annual pace of housing starts dropped 17 per cent in October
Business Intelligence for B.C.
AI Article Summary
Canada Mortgage and Housing Corp. reports that the annual pace of housing starts in Canada decreased by 17 percent in October compared to September. This follows recent trends indicating a slowdown in the housing construction sector. The report highlights shifting dynamics in the Canadian housing market.
What This Means for Canadian Contractors
For Canadian builders, this means reconsidering project timelines and funding strategies due to decreased housing starts. This trend could affect permit processing times and lead to reassessments of labor needs and supply chain adjustments. Canadian contractors might need to explore alternative construction techniques such as prefab to mitigate impacts.
