Canadian construction costs are rising, and that has contributed to home price increases as developers build in growing expenses to their pricing models.
Builders across Canada reported flat or declining prices for new homes according to Statistics Canada.
During Canada’s housing downturn, homebuilders are getting stuck with more and more unsold new homes on their hands, and that’s causing them to hold off on beginning work on new projects that are already approved.
Canada’s new construction housing market could be hitting a wall, thanks to higher interest rates: TD
There was a slight increase in Canadian housing starts in November, the second month of strong activity for the homebuilding sector. But according to economists, the solid performance could hit a wall in 2019.
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