TORONTO – New home construction is expected to continue its upward trend in Canada next year at an even stronger pace than previously expected, according to Canada Mortgage and Housing Corp.
CMH said housing starts are projected to reach 164,900 units next year, revising its prior 2010 forecast of 150,300 units.
The new figure represents a potential 16.2% gain from the 141,900 units expected to be started in 2009.
Even with the projected improvement, housing starts for 2010 would substantially lag behind the 211,056 starts recorded in 2008.
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