Here are the most recent news stories posted for the Trans-Canada Highway:
Canada November Composite Leading Indicators: Housing up
Canada: Following is the text of Canada's leading indicators report from Statistics Canada.
The composite index rose 0.3% in November, the same as in October. Among the 10 components, 6 posted gains, 3 were unchanged and 1 declined.
The housing index recorded the largest turnaround, increasing 2.0% after six straight declines averaging almost 3% a month. Both housing starts and existing home sales firmed after sizable retreats from their highs in the spring. The upturn in housing was reflected in a levelling off of furniture and appliance sales, after four straight declines.
Canada Housing Starts Rise First Time in Four Months, Exceeding Forecasts
Canada: Starts advanced 11.6 percent to a seasonally adjusted annual pace of 187,200 from a revised 167,800 rate in October, Canada Mortgage and Housing Corp. said from Ottawa today. The reading exceeded all 21 estimates in a Bloomberg News survey that had a median estimate of 173,000 units.
Housing starts will drop to 174,800 units in 2011 from an estimated 186,200 units this year, Canada Mortgage and Housing Corp. said Nov. 15. The Bank of Canada said in October that housing will be a drag on economic growth next year, after temporary stimulus measures for homeowners lapsed.
The Canadian Housing Market is Expected to Stabilize- Predict Experts
Canada: Even though the mortgage rates have increased from 3.39% to 3.69 %, they are still at historic lows. Thus, it’s still a buyer’s market. In fact experts suggest that Canada’s mortgage industry is vastly stable and competitive than its American and Australian markets. In the US, there were 54,000 mortgage firms, while only 8000 of them are left today. On a national level the housing affordability improved between 1.4 and 2.5 % points from the second quarter,” adds Ken Faminoff (first name).
Canadian housing starts dove 9.2%
Canada: In October, Canadian housing starts dove 9.2% to 167.9K units from a downwardly revised 185K in September. This is an acceleration of what had been a smooth down trend in starts since April. Urban starts plunged to 142.4K from 162.3K the previous month. Rural starts sprang to 25.5K from 22.7K. This worse-thanexpected overall decline was broad-based, with starts falling in 4 of 5 regions. Only the Atlantic region (+32.9% or +2.4K) posted a gain
Niagara Housing market to dip slightly in 2011
ON: The agency predicts sales of existing homes should reach 5,700 in 2011, a 2.6 per cent drop over 2010. Likewise, construction starts for all types of housing should hit 1,000 next year, a drop of 4.8 per cent over 2010.
Construction starts for single detached homes will see the biggest drop, with 600 starts predicted for 2011 — a drop of 11.8 per cent over 2010, and a full 198 starts lower than 2007.
Saskatoon Housing starts to dip in 2011
SK: The number of homes built in Saskatoon in 2011 will fall back from an estimated 2,125 houses constructed in the city this year, Canada Mortgage and Housing Corp. (CMHC) said Monday.
While new housing starts are up this year over 2009, when hammer met nail on 1,428 new residential projects, the CMHC says 2011 starts will moderate to 1,700 units.