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New home construction still improving in Vancouver

The Canadian Housing and Mortgage Corporation (CMHC) released figures this week that show that  new home construction starts in Vancouver continue to be strengthening.

There were 3,198 new home construction projects recorded during the first quarter of 2010, a 76 percent increase from the same time last year.

The increase can be attributed to a strong re-sale market, improving economic conditions, and still relatively low interest rates.

In Vancouver single detached construction rebounded with the most strength.