Barrie Starts Slightly Down Year Over Year

TORONTO, ONTARIO--(Marketwire - April 8, 2011) - Canada Mortgage and Housing Corporation (CMHC) released preliminary first quarter 2011 new home construction figures for the Barrie Census Metropolitan Area(1) (CMA) today. Builders started 53 homes in the most recent quarter, down from the 72 starts in the first quarter of 2010. Single-detached homes represent a significant portion of new construction followed by row homes and apartments. There were no semi-detached starts this quarter.

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"New home construction has slowed in Barrie," commented CMHC's Barrie Market Analyst, Edgard Navarrete. "A cooler existing home market in 2010 has translated into fewer starts in early 2011. It is noteworthy that the mix of new housing has changed from as recent as 2009. Currently, row homes are carving out a bigger share. Potential home owners are looking for affordable new housing options," added Navarrete.

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. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

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For more information, visit www.cmhc.ca or call 1 800 668-2642.

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(1) Statistics Canada defines a census metropolitan area (CMA) as one or more adjacent municipalities integrated with an urban core. A CMA must have a total population of at least 100,000 of which 50,000 or more must live in the urban core.