BlackburnNews.com file photo.BlackburnNews.com file photo.
Sarnia

Housing Starts In Lambton Trending Higher

Sarnia area housing starts are trending higher due in part to demand for listings in the resale market.

While last month's starts are the same as the six recorded in February 2015, the year-to-date total is 13 compared to eight through the first two months of last year.

Canada Mortgage and Housing Corporation Market Analyst Anthony Passarelli says the strong resale market is a factor.

"For example, in Sarnia it's becoming more and more difficult to find a home listed for sale in the resale market," says Passarelli. "There's a lot more competition for those homes, so that tends to cause more new homes to be built to meet that demand."

Passarelli also says there are many "migrant buyers" coming in from pricier markets like Toronto, looking to make their money go farther.

He says new homes in the area are typically in the $350,000 to $400,000 price range.

The monthly statistics cover Sarnia, St. Clair Township and Pt. Edward.

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