AGENT LICENSE ID
M08008551
BROKERAGE LICENSE ID
10500
![Frank P. Araujo Mortgage Professional](https://agentphotos.mortgageweb.ca/2671_profile.png)
Frank P. Araujo
Mortgage Professional
Phone:
Email:
Address:
301 Welllington Road S., London, Ontario
CMHC Housing Supply Report
5/10/2023
Highlights from the April 2023 Housing Supply Report:
- Growth in residential construction was mixed across Canada’s 6 largest census metropolitan areas in 2022.
- Current new home inventories are at historic lows even though housing starts were strong during the pandemic.
- Housing starts increased in Toronto, Calgary, Edmonton and Ottawa. Starts were stable in Vancouver and decreased in Montréal.
- New research completed by the University of British Columbia using CMHC data shows that most housing starts were built in low-amenity neighbourhoods. Apartments, however, tend to be in high-amenity areas .
- As interest rates increased, homebuyer purchasing power dropped. Prices decreased slightly in most markets.
- Apartment construction – both purpose-built rental and condominiums – continued to grow.