New home construction off pace in Lethbridge area
Canada Mortgage and Housing Corporation. Photo Courtesy of CMHC.
New home construction in this region is off pace compared to this time last year.
Canada Mortgage and Housing Corporation says ground has broken on 216 homes in the Lethbridge Census Metropolitan Area between January and the end of May. That’s down slightly from 226 starts for the same five-month period in 2018.
There was actually a sizeable drop in home starts in this region in May.
There continues to be a lot of new home inventory on the local market, which is one of the reasons why sales have been slower.
The numbers compiled include home building in the City as well as Coaldale, Coalhurst, Nobleford, Barons, Lethbridge County, and Picture Butte.