I guess we have enough new homes in Regina!
Regina home builders started construction on 94 housing units in October, less than one third of the 305 total starts for the same period last year, according to Canada Mortgage and Housing Corp. (CMHC).
For the year to date, total housing starts of 1,324 were down one-third from 2,004 starts during the first 10 months of 2014. Multiple units were down to 921 at the end of October from 1,383 during the same period in 2014, while single-family starts were down to 403 from 621 during the same period last year.
Housing starts in Regina will decline in 2015, as builders strive to reduce inventory in the face of moderating economic fundamentals.
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