After a year of extreme speculation from both builders and buyers, the number of homes being built in Ontario is returning to a relatively stable number. The Ontario Home Builders Association (OHBA), which is comprised of 4,000 individual building companies province-wide is reporting a return a historical average when it comes to the number of new home that are going under construction each month.
Some urban centres that showed a good deal of new growth include Barrie, Guelph, Oshawa, Hamilton, Peterborough, St. Catharines-Niagara and Windsor. The data. collected between January and March 2013. shows 10,972 new home starts as opposed to 16,045 last year and 10,914 in 2010 during the same period.
The OHBA predicts 65,000 new homes will go under construction across the province in 2013. Although these numbers do not necessarily represent future home sales, they do illustrate an increased confidence in the home sales market on the part of builders. It's also imporatant news for Ontario's economy which makes $42 billion from a vital industry that employs 325,000 Ontarians.