Housing starts for single detached homes in Greater Vancouver fell by 40% in the first three months of 2007 compared with the first quarter a year ago, according to Canada Mortgage and Housing Corp. figures.
The first three months of 2006 were the strongest first quarter for single detached housing starts in 15 years.
Overall in B.C., housing starts were down 9% from the same period in 2006.
Abbotsford bucked the provincial trend, however, with a 23% increase in housing starts. The CMHC said that increase resulted from lower selling prices, which drew home buyers to the Fraser Valley.