Here is the latest market commentary provided by First National Financial LP.
The number of housing starts dipped by about 6.5% in December, a sharp turnaround from November. The CMHC figures show a pullback in both urban multi-family and single family homes.
Ontario and B.C. actually posted modest gains. As might be expected, because of the decline in oil prices, Alberta showed a loss, but so did most of the rest of the country.
Calgary, one of the country’s hottest markets, has seen a distinct cooling. December sales fell 7.5%, with a 42% jump in new listings compared to a year ago. Prices managed a 4.5% increase over the year.
The forward looking indicator, building permits, took a nearly 14% hit on a national basis, from October to November.
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