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St. John’s Housing Starts Surge 75% Amid Economic Growth

2/18/2025

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Summary

Story summary

St. John’s Census Metropolitan Area saw 871 new housing starts in 2024, marking a 75% increase from 2023.
Lower interest rates spurred this growth, creating 1,000 construction jobs and boosting total employment by 3.5%.
Household income increased to over $12.5 billion, reflecting an 8% rise.
Inflation decreased to 2.2%, while real GDP expanded by 5.2%.
US tariffs present a notable risk to future economic growth.

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Story summary

St. John’s Census Metropolitan Area saw 871 new housing starts in 2024, marking a 75% increase from 2023.
Lower interest rates spurred this growth, creating 1,000 construction jobs and boosting total employment by 3.5%.
Household income increased to over $12.5 billion, reflecting an 8% rise.
Inflation decreased to 2.2%, while real GDP expanded by 5.2%.
US tariffs present a notable risk to future economic growth.