Saguenay: housing starts fall 53%

The latest data released by Canada Mortgage and Housing Corporation (CMHC) revealed that the number of housing starts in the Saguenay tumbled significantly in the first seven months of the year with a decrease of 53% compared 2015.

Since the beginning of 2016, a total of 189 new housing units have been started compared to 357 in the same period last year. The number of individual houses also fell for a total of 99 compared to 131 in July 2015. The number of collective housing as it undergoes a decline with 90 starts while in July 2015 it reached 226.

Provincially, CMHC reported a stability in the residential construction industry since recorded a total of 31,419 housing starts, compared to 31,944 in June.

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