Housing starts stable, but demand still outpacing growth of supply [Investment Executive - News]
Cabot Corporation (CBT)
Last cabot corporation earnings: 2/3 04:16 pm
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Source: Investment Executive - News
The Canada Mortgage and Housing Corp. says construction of new homes in Canada’s six largest cities remained stable at near all-time high levels last year, driven by a surge of new apartments — despite demand still outpacing supply for rental housing. The agency says combined housing starts in the Toronto, Vancouver, Montreal, Calgary, Edmonton and Ottawa regions dipped 0.5% compared with 2022, totalling 137,915 units, as apartment starts grew 7% to reach a record 98,774 units. But that was offset by declines in the number of new single-detached homes, which fell 20% year-over-year, due to weaker demand for higher-priced homes in an elevated mortgage rate environment. The CMHC says rising costs, larger project sizes and labour shortages have led to longer construction timelines, prompting various levels of government in Canada to announce new programs aimed at stimulating new rental housing supply. Of the six cities examined, Vancouver, Calgary and Toronto saw growth in their tota
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CBT
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- 2/5/24 - Beat
CBT
Sec Filings
- 4/1/24 - Form 4
- 4/1/24 - Form 4
- 4/1/24 - Form 4
- CBT's page on the SEC website