Housing Starts In Waterloo Region Rose In June

  • 07/10/18
  • |          Waterloo

Home construction in Waterloo Region surged in June.

Builders in the Kitchener-Cambridge Waterloo census metropolitan area started 297 housing units last month, up from 227 in June a year ago, the Canada Mortgage and Housing Corp. said Tuesday.

They poured foundations for 94 single-detached homes (one more than a year ago) and 203 multiple units (up from 134 a year ago).

The housing corporation said housing starts in June were trending at a seasonally adjusted annual rate of 3,307.

It was the first time housing starts have trended upward in the past five months.

“The slight pickup in full-time employment and tightening resale market conditions during late 2017 supported spillover demand for single-detached units from the resale market to the new construction market,” the corporation said in a news release.

Nationally, housing starts were trending at an annual rate of 222,041 units last month, up from 216,701 in May.

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