A new home is under construction in North Vancouver, B.C., in a file photo. The Canadian Press/Jonathan Hayward
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The number of new homes constructed have weakened since the start of the year, according to a report by the Canada Mortgage and Housing Corporation’s (CMHC). The organization is also projecting further drops in new construction over the next three years.
“New construction is slowing,” the report authors wrote, as first reported by Blacklock’s Reporter. “Developers remain cautious and financing conditions stay tight.”
Chandra Philip is a news reporter with the Canadian edition of The Epoch Times.
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