The Canada Mortgage and Housing Corporation says multi-unit housing starts in the Windsor area posted the highest levels for the month of October since 2004.
Single-detached starts trended lower for a second consecutive month.
The CMHC says slightly lower demand in the resale market evidenced by a declining sales-to-new listings ratio has discouraged builders from keeping single-detached starts as high as they were early in the summer.
Windsor’s growing population of seniors has strengthened demand for multi-unit starts, according to the CMHC. Seniors have a higher propensity to downsize to apartment units and semi-detached homes as they age.
