Completions are a different story with skilled labour shortages, red tape and transportation issues burdening the region. Completions still aren't keeping up with starts and the level of units under construction is ballooning to new record levels.
Monday, October 22, 2007
CMHC September Starts and Completions
CMHC released data on Vancouver CMA Starts and Completions today and not surprisingly, starts are staying at high levels. With building homes being such a remarkably profitable business right now in the Vancouver area even with land costs and labour shortages it is no surprise to see builders wanting to build as much supply as possible at these prices. Construction on 2157 new homes was started last month in the Vancouver CMA. Get those presale contracts signed - suckers.