CMHC released complete April housing data for Vancouver and Abbotsford last week.
Here are the highlights:
Year to Date Starts 2008 - 6691
Year to Date Starts 2009 - 2302
Year to Date Completions 2008 - 5540
Year to Date Completions 2009 - 5377
Under Construction April 2008 - 26253
Under Construction April 2009 - 22494
Completed but Unabsorbed 2008 - 1445
Completed but Unabsorbed 2009 - 2368
Surrey has a crapload of unabsorbed new housing (754 units) and many more units on the way (5344 units under construction).
2 comments:
Annualise those housing starts. Then figure out what that does for jobs dependent on "under construction" units. Not looking good.
Wow, that's an amazing drop in YTD starts.
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