The new home start numbers for the first three months of 2016 are available and the results are encouraging, yet not surprising.
Single-family-detached starts are slightly ahead of last year, whereas multi-family starts are down by quite a bit. The single-family starts generally reflect a selling period that stretches back to last fall’s Parade of Homes and beyond. Very seldom do people buy and build immediately, as they have to sell their current home and make numerous other decisions and arrangements.
Multi-family starts are down quite a bit from last year; however, this is to be expected. In 2015, apartment starts were up dramatically from previous years. That pace couldn’t and shouldn’t be repeated. In that apartments are built in multiple numbers, construction has to not only meet current demand but also anticipate future demand. This was done in 2015. Therefore, we anticipate multi-family starts to be declining for this year, thereby reflecting the return to more traditional apartment start numbers.
The condominium industry will remain strong this year. For those just entering the market and those downsizing, the condominium and townhouse are both popular options. For the past five years, this segment of the industry has enjoyed the greatest growth pattern.
New-home sales representatives report that sales over the winter months have been encouraging, hopefully pointing to a strong spring and summer construction season. Again, visibility from the Spring Parade of Homes tends to be a catalyst for those looking to make the move into a new home.
Speaking of the Spring Parade of Homes, the Manitoba Home Builders’ Association celebrated the Parade winners at its annual gala last week at the Fort Garry Hotel. There were five condominium categories and 22 single-family categories.
Judging was done by the visiting public who were able to rate each home in four different areas on their smartphones. Thousands of votes were cast; MHBA staff tabulated the results and announced the winners. You can see all the winning homes on display and review the Parade magazine on the MHBA website at www.homebuilders.mb.ca.
For those who were unable to visit the various show homes during the Spring Parade of Homes, but now have the urge to get out there and see the best new ideas in design and construction, most of the homes featured in the Parade are still open for viewing. Your Parade magazine will direct you to all of the locations.
Mike Moore is prwsident of the
Manitoba Home Builders’ Association
