CMHC reports November housing starts up 9.4 per cent from October
AI Article Summary
The Canada Mortgage and Housing Corporation (CMHC) reported a 9.4% increase in the annual pace of housing starts in November. This rise indicates a potential upswing in the residential construction sector across Canada. The increase follows a period of slower growth, suggesting a recovery trend. CMHC's data highlights the ongoing demand for new housing developments.
What This Means for Canadian Contractors
For Canadian builders, this means there may be an increase in demand for permits and potentially more opportunities for new residential projects. The rise could lead to increased workloads, thus requiring more labor resources and potentially affecting timelines. Additionally, this might also impact the supply chain and materials costs, necessitating careful planning and management.
