Mid-year update on residential construction: taking a breather

 |  from BuildingTeam Construction Forecast - Canada

Over the past few months, there has been increasing evidence that Canada’s housing market is taking a breather. First, existing home sales in April were down by 12.2% year over year in April 2008. Second, while still positive, year-over-year increases in both new and existing house prices have slowed since the middle of last year. Third, the number of completed and unoccupied vacant dwellings has trended steadily higher since late in 2006.