Housing is off to a slower start than January 2017 according to CMHC which says “Housing starts are forecast to taper down from a record setting year in 2017. ”
This was anticipated. Last year posted 3,862, the highest number since 1976.
Housing starts in the first month of 2018 were 100 compared with 175 during the same time last year. However, there are thousands of units in the pipeline and a more accurate picture will appear further into the year.
According to housing experts at VRBA’s Crystal Ball Housing Forecast, “headwinds” this year include new mortgage rules, rising interest rates, U.S tariffs on lumber, low housing supply and provincial regulations like Step Code will add costs.