Housing construction (Photo by Mike Vlasveld)Housing construction (Photo by Mike Vlasveld)
Sarnia

2016 Ends On A High Building Note

2016 ended with a high number of new homes started in the Sarnia area compared with the year before.

Canada Mortgage and Housing Corporation (CMHC) market analyst Anthony Passarelli says there were 214 new homes started in 2016 up from 183 in 2015.

He says a lack of inventory in the resale market lead to a rise in new home construction.

"In most of the regions in that area, you saw higher housing starts," says Passarelli. "A lot of that had to do with the fact that there was fewer listings in the resale market, coupled with more housing demand. So, more people were looking to buy a house and there were fewer listings out there and that allows builders to sell more homes, because there's less options out there."

The local numbers include Sarnia, St. Clair Township and Pt. Edward.

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