“Total urban starts for the month of May were down from last year’s monthly level due to an overall decrease in both single and multiple starts in provincial urban centres,” said Claude Gautreau, CMHC’s senior market analyst for New Brunswick. Single starts in provincial urban centres were down 38 per cent to 138 units in May. Year-to-date, single starts were down by 39 per cent to 292 units.

Meanwhile, in New Brunswick’s urban centres, a total of 196 multiple starts were recorded in May of 2009, down from 258 units during the same month last year. The year-to-date decline in multiple starts was moderate at 6.7 per cent at the end of May. “Increased activity in both Saint John and Fredericton through the first five months of 2009 has bolstered overall multiple starts in provincial urban centres,” continued Gautreau.

In urban centres across Canada, total housing starts in May declined by 46 per cent, down to 10,368 compared to last year’s total of 19,222. Single-detached starts decreased 42 per cent to 4,939 units, while multiple unit starts were down 49 per cent from 10,654 units last year to 5,429 units this year. In the Atlantic region, 760 new units were started in May 2009 compared to 1,094 units during the same period in 2008.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable, and affordable homes – homes that will continue to create vibrant and healthy communities and cities across the country.

—————————————-
(1) Figures for the most recent month are preliminary and subject to
revisions due to corrections or updates from quarterly enumeration or
sampling results.

————————————————————————-
PRELIMINARY URBAN MONTHLY HOUSING STARTS
NEW BRUNSWICK SUMMARY
————————————————————————-
2009 2008 YEAR-TO-DATE
———— % Change ————– % Change
MAY MAY 2009 2008
————————————————————————-
ALL URBAN CENTRES WITH POPULATIONS GREATER THAN 50,000
————————————————————————-
SAINT JOHN CMA
Single 40 57 -29.8% 103 164 -37.2%
Multiple 60 20 (XX) 192 138 39.1%
TOTAL 100 77 29.9% 295 302 -2.3%
————————————————————————-
MONCTON CMA
Single 44 96 -54.2% 76 155 -51.0%
Multiple 114 165 -30.9% 170 248 -31.5%
TOTAL 158 261 -39.5% 246 403 -39.0%
————————————————————————-
FREDERICTON CA
Single 29 47 -38.3% 70 117 -40.2%
Multiple 22 66 -66.7% 95 72 31.9%
TOTAL 51 113 -54.9% 165 189 -12.7%
————————————————————————-
ALL URBAN CENTRES WITH POPULATION GREATER THAN 10,000(*)
————————————————————————-
ALL CENTRES
Single 138 223 -38.1% 292 477 -38.8%
Multiple 196 258 -24.0% 457 490 -6.7%
TOTAL 334 481 -30.6% 749 967 -22.5%
————————————————————————-
Figures for the most recent month are preliminary and subject to
revisions due to corrections or updates from quarterly enumeration or
sampling results.

(*) Includes all centres with a total population of more than 10,000
(Saint John CMA, Moncton CA, Fredericton CA, Bathurst CA,
Campbellton CA, Edmundston CA, and Miramichi City).

(XX) Indicates changes in excess of 100% which are not reported due to
volatility resulting from small absolute numbers.

http://www.dailycommercialnews.com/nw/12359/re

Report provided to the blog by Moishe Alexander, CFC CEO

Updated Wed. Apr. 8 2009 6:40 PM ET

CTV.ca News Staff

A recession-cooled Canadian real estate market saw falling housing prices during the first quarter of the year, though the declines were not as steep as expected.

A quarterly house price survey, released Wednesday by Royal LePage Real Estate Services, showed national price declines in several major housing types compared to the same quarter in 2008.

According to the survey numbers:

* The price of a standard two-storey home dropped 6.5 per cent
* The price of a detached bungalow fell 6.1 per cent
* The price of a standard condominium declined by 4 per cent

Royal LePage Real Estate Services President Phil Soper said the data shows the hottest housing market to be in St. John’s, where prices for standard two-storey homes rose 15 per cent year over year.

“Consumer confidence drives a lot of activity in the housing market and they remain a very confident lot, and there’s still a supply shortage of homes for sale there,” he told CTV’s Canada AM.

Soper said other markets in Atlantic Canada also performed steadily, due in part to the region’s affordable housing prices and to an increasingly diverse regional economy.

“Halifax, Moncton, Saint John, N.B., are all healthy markets,” he said.

“The economies have really diversified over the last 15 years and it’s showing up in terms of steadier prices.”

In Ontario and Quebec, Royal LePage said the markets “held steady” with some small gains and declines. But overall, Ontario typically saw “mid to low single digit declines” in its housing prices, the survey said.

The survey said that Western provinces saw “significant changes” in real estate prices, with double-digit declines in many areas. Manitoba was the lone major exception to this trend.

The survey predicted that B.C. and Alberta may be among the first areas in Canada to see pricing gains because those provinces experienced market corrections prior to the brunt of the economic crisis.

Soper said the first quarter of 2009 was, overall, one of the worst-performing sales periods for real estate in recent memory.

But he said Canadian realtors have high hopes for an improvement in the national market this spring.

“There is a remarkable uptick in March in buying activity in the marketplace, compared to November, December, January, February, (which) were easily the worst four months in the last decade in terms of housing market activity,” he said.

Out west, the declines were particularly severe, Soper said.

“In Vancouver, the activity level in the province was down by half,” Soper said.

“Fifty per cent of the transactions just disappeared over those four months. So, now we’re only down 25 per cent in March, that’s a remarkable turnaround in one month.”

The survey also said that condominiums have become “increasingly accessible” for young homeowners across Canada, due to a combination of low lending rates and falling prices during the recession.

In the first quarter of 2009, the average price of a standard Canadian condominium was $232, 877 — a mid-point price on a scale that ranged from $120,000 in Charlottetown to $431,500 in Vancouver.

http://www.johnhutton.ca/?p=84

brought to the blog by Moishe Alexander, CFC CEO