November housing starts in Halifax
HALIFAX, NOVA SCOTIA`(Marketwire ` Dec. 10, 2012) - Housing starts in Halifax, Census Metropolitan Area (CMA) were trending at 3,631 units in November, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR) [sup]1[/sup] of housing starts. The standalone monthly SAAR was 1,693 units in November, down from 7,064 in October.
`The pace of residential construction in the HRM slowed last month,` said Matthew Gilmore CMHC`s Senior Market Analyst for Halifax. `The reduced level of new construction starts in the city was largely attributed to a significant reduction in apartment construction as no new apartments were started in November compared to 479 units in October,` Gilmore added. `In the single-detached segment of the market, starts also declined in November,` said Gilmore.
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