How is the market doing? According to the Vancouver Sun May 8, 2007 B.C. housing starts fell by 11 per cent during the first four months of 2007 when compared to the first four months of 2006. This information came from the Canada Mortgage and Housing Corp.
CMHC attributed most of the decline to a 29-per-cent drop in single family housing starts; multiple family housing starts fell by just one per cent. While this is the situation currently, the CMHC analyst said that homebuyer demand remains strong and she therefore expects housing starts this year will match 2006 levels.
There hasn't been as much new construction in the Cove as there has been in some past years so starts will likely be down in this neighbourhood. However as to the entire lower mainland, we will have to wait and see.