{"id":28,"date":"2023-09-13T21:03:24","date_gmt":"2023-09-13T21:03:24","guid":{"rendered":"http:\/\/localhost:8888\/?page_id=28"},"modified":"2023-12-07T15:58:29","modified_gmt":"2023-12-07T15:58:30","slug":"affordability-of-newly-constructed-homes","status":"publish","type":"page","link":"https:\/\/hamiltoncommunityfoundation.ca\/vitalsigns-report\/affordability-of-newly-constructed-homes\/","title":{"rendered":"Affordability of newly constructed homes"},"content":{"rendered":"\n<p>While there has been a steady increase in new home construction, very little of this addresses the need from lower-income households. The chart below shows that average prices for newly completed single and semi-detached units increased 52% between 2016 and 2021. For row and condominium units, prices peaked near $450,000 in 2019 before dropping off to just under $400,000 in 2021.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/hamiltoncommunityfoundation.ca\/vitalsigns-report\/wp-content\/uploads\/2023\/09\/Chart-2-Absorbed-price.png\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"616\" src=\"https:\/\/hamiltoncommunityfoundation.ca\/vitalsigns-report\/wp-content\/uploads\/2023\/09\/Chart-2-Absorbed-price-1024x616.png\" alt=\"\" class=\"wp-image-84\" srcset=\"https:\/\/hamiltoncommunityfoundation.ca\/vitalsigns-report\/wp-content\/uploads\/2023\/09\/Chart-2-Absorbed-price-1024x616.png 1024w, https:\/\/hamiltoncommunityfoundation.ca\/vitalsigns-report\/wp-content\/uploads\/2023\/09\/Chart-2-Absorbed-price-300x181.png 300w, https:\/\/hamiltoncommunityfoundation.ca\/vitalsigns-report\/wp-content\/uploads\/2023\/09\/Chart-2-Absorbed-price-768x462.png 768w, https:\/\/hamiltoncommunityfoundation.ca\/vitalsigns-report\/wp-content\/uploads\/2023\/09\/Chart-2-Absorbed-price.png 1078w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<p class=\"has-small-font-size\">*<strong><sup> <\/sup>Recently completed and sold.<\/strong><\/p>\n\n\n\n<p class=\"has-small-font-size\">Source:&nbsp; Canada Mortgage and Housing Corporation, <a href=\"https:\/\/www03.cmhc-schl.gc.ca\/hmip-pimh\/#TableMapChart\/0610\/3\/Hamilton+CMA\/L2htaXAtcGltaC9lbi9UYWJsZU1hcENoYXJ0L1RhYmxlP1RhYmxlSWQ9MS4xLjEmR2VvZ3JhcGh5SWQ9MDYxMCZHZW9ncmFwaHlUeXBlSWQ9MyZCcmVha2Rvd25HZW9ncmFwaHlUeXBlSWQ9MCZEaXNwbGF5QXM9VGFibGUmR2VvZ3JhZ2h5TmFtZT1IYW1pbHRvbiUyMENNQSZZdGQ9RmFsc2U%3D\">Housing Market Information Portal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>While there has been a steady increase in new home construction, very little of this addresses the need from lower-income households. The chart below shows that average prices for newly completed single and semi-detached units increased 52% between 2016 and 2021. For row and condominium units, prices peaked near $450,000 in 2019 before dropping off<a href=\"https:\/\/hamiltoncommunityfoundation.ca\/vitalsigns-report\/affordability-of-newly-constructed-homes\/\">Continue reading <span class=\"sr-only\">&#8220;Affordability of newly constructed homes&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"_links":{"self":[{"href":"https:\/\/hamiltoncommunityfoundation.ca\/vitalsigns-report\/wp-json\/wp\/v2\/pages\/28"}],"collection":[{"href":"https:\/\/hamiltoncommunityfoundation.ca\/vitalsigns-report\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/hamiltoncommunityfoundation.ca\/vitalsigns-report\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/hamiltoncommunityfoundation.ca\/vitalsigns-report\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hamiltoncommunityfoundation.ca\/vitalsigns-report\/wp-json\/wp\/v2\/comments?post=28"}],"version-history":[{"count":5,"href":"https:\/\/hamiltoncommunityfoundation.ca\/vitalsigns-report\/wp-json\/wp\/v2\/pages\/28\/revisions"}],"predecessor-version":[{"id":220,"href":"https:\/\/hamiltoncommunityfoundation.ca\/vitalsigns-report\/wp-json\/wp\/v2\/pages\/28\/revisions\/220"}],"wp:attachment":[{"href":"https:\/\/hamiltoncommunityfoundation.ca\/vitalsigns-report\/wp-json\/wp\/v2\/media?parent=28"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}