Thursday, August 30, 2007

CMHC "Housing Now" Report for July

First things first, for VG, here's the front page of the Edmonton Sun from earlier this week.

CMHC has released their "Housing Now" report for July. Housing starts for July 2007 were up 116.5% from July 2006. Year to date, starts are 18.9% higher in 2007.

Housing units under construction has the wow factor. There are 3278 housing units currently under construction in Greater Victoria. This is 52% higher than last July. Of that number, 2252 of those units are condos!

CMHC's average SFH selling price dropped slightly from June to July. Looking at their sales-to-active listings ratio, it appears to still be a sellers market. The townhome and condos markets are not quite as hot as the SFH market. Average selling price showed a month-over-month drop for both townhomes and condos.