July marked a four-month upward trend in the number of housing units builders are starting in Hamilton, Burlington and Grimsby, according to the Canada Mortgage and Housing Corporation.
A hot market for resale homes is part of the equation, said Abdul Kargbo, who analyzes Hamilton and Burlington statistics for the agency.
"A tight resale market, with listings of affordable homes in short supply, is putting pressure on home buyers to buy new," Kargbo said.
Analysts like Kargbo use what's happening in the resale market – like July's 10-year record-setting sales numbers – to gauge the "actual temperature of the market," he said. From there, they extrapolate some of the reasons why builders may start constructing the types of units they do.
Builders have started construction on significantly more townhouses and row homes so far in 2014 than they did in the same period last year.
They've begun construction on 435 row homes and 46 semi-detached homes in the first seven months this year. That marks an increase from 310 row homes and 32 semi-detached homes in January-through-July 2013.
That shows buyers are searching for affordability, Kargbo said.
"Those buying in the affordable price ranges are turning to this more affordable ground-oriented home type in the new home market," he said.
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