Local housing starts lower in 2020, says CMHC
Travel restrictions due to COVID-19 are speculated to be among the factors resulting in fewer housing starts throughout Red Deer last year.
That according to Christian Arkilley, Senior Market Analyst with Canada Mortgage and Housing Corporation (CMHC) who notes a significant drop in Red Deer housing starts last year when compared to 2019.
Arkilley says there were 13 housing starts in the city last month, down slightly from 15 housing starts throughout Red Deer in December, 2019.
“When you look at year-over-year, we have 171 units for the whole of 2020 versus 244 for 2019,” he points out. “When you look at the number we had for last year, it’s the lowest since 1990.”