OTTAWA — Poor selling conditions are leading to a further decline in the sentiment of the country’s homebuilding industry, reports the Canadian Home Builders’ Association’s (CHBA) 2024 Q4 Housing Market Index (HMI). Poor sales of single-family and multi-family homes through Ontario and British Columbia, with other areas of the country also dipping since the previous quarter, and a weak outlook for the near future, were outcomes shown in the HMI. The single-family HMI slid another 2.5 points nationally from the previous quarter, down to 25.1, which is just 0.5 away from its record low. The multi-family HMI did reach a record low, dropping 6.5 points from the previous quarter to 22.0, which is four points below the previous record low in the fourth quarter of 2022. …Ontario’s multi-family HMI reached a new low of 6.2, and British Columbia’s single-family index is similarly alarming at 10.5, the report notes.