New Home Construction in Lethbridge Area Sees Significant Drop in October

Canada Mortgage and Housing says in October, ground broke on just 37 homes in the Lethbridge Census Metropolitan Area. That's a 70% drop from the same month last year.

It appears unsold inventory continues to have an impact on new home construction in the Lethbridge region.

Canada Mortgage and Housing says in October, ground broke on just 37 homes in the Lethbridge Census Metropolitan Area. That's a 70% drop from the same month last year.

Year-to-date home building numbers are down in the region as well by around 25% from January to October. 

Housing stats are complied with data from the City of Lethbridge, Lethbridge County as well as Coaldale, Coalhurst, Nobleford, Barons, and Picture Butte.

CMHC says the average selling price for a purchased single-detached home in this region was just over $468,000 in October.

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