Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

March 08, 2010 08:15 ET

Canada Mortgage and Housing Corporation: February Single Starts Equal the Ten Year Average

GREATER SUDBURY, ONTARIO--(Marketwire - March 8, 2010) - According to data released today by Canada Mortgage and Housing Corporation, there were three single-detached units started this February, equal to that of the ten-year average for the month of February. The seven units that commenced last month combined with the three this month brought the year-to-date total to ten units up four units from last year.

"Resale volumes increased year-over-year in Sudbury during five of the past six months. As the resale market gains momentum, it is expected that the new housing market will react to this improvement as well" asserted Warren Philp, Northern Ontario Market Analyst with CMHC. "Prices are also giving some early signs of stabilizing, although listings are still relatively high," concluded Philp.

To view the Greater Sudbury single-detached starts graph, please visit the following link: http://media3.marketwire.com/docs/cmh308sud.pdf

URBAN HOUSING STARTS
FEBRUARY
  Single Family Semis, Rows, Condos and Apartments Total
  2009 2010 % chg 2009 2010 % chg 2009 2010 % chg
Sudbury 0 3 ** 0 0 -- 0 3 **
 
YEAR-TO-DATE: JANUARY TO FEBRUARY
  Single Family Semis, Rows, Condos and Apartments Total
  2009 2010 % chg 2009 2010 % chg 2009 2010 % chg
Sudbury 6 10 66.7 4 0 -100.0 10 10 --
Source: CMHC

As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable, and affordable homes — homes that will continue to create vibrant and healthy communities and cities across the country.

Aussi disponible en francais

Our next Housing Starts press release will be for March 2010, coming on April 12, 2010. CMHC's national web-site is located at www.cmhc.ca.

Contact Information

  • Thunder Bay:
    Canada Mortgage and Housing Corporation
    Warren Philp
    (807) 343-2016
    wphilp@cmhc.ca
    or
    En francais:
    Canada Mortgage and Housing Corporation
    Sandra Perez-Torres
    (613) 748-5120
    sperezto@schl.ca
    or
    Ontario:
    Canada Mortgage and Housing Corporation
    Ted Tsiakopoulos
    (416) 218-3407
    ttsiakop@cmhc.ca
    or
    Canada:
    Canada Mortgage and Housing Corporation
    Charles Sauriol
    (613) 748-2799
    csauriol@cmhc.ca