CMHC Reports February Housing Starts Lower in Windsor

WINDSOR, ONTARIO--(Marketwire - March 8, 2011) - New home starts were lower in February in the Windsor Census Metropolitan Area¹ (CMA) according to preliminary data released today by Canada Mortgage and Housing Corporation (CMHC). Builders laid foundations for 13 residential units compared to 27 units in February 2010.

"Although starts were down in February, the year-to-date data show the year is off to a good start, One month doesn't make a trend," said Margot Stevenson, Market Analyst for Canada Mortgage and Housing Corporation. "The Bank of Canada's decision to hold rates steady and improving employment opportunities locally will continue to support demand for new homes in Windsor," added Stevenson.

Single-detached homes accounted for seven of the starts along with two semi-detached units and four townhouse units. Year-to-date, builders started 28 single-detached homes, four semi-detached homes and 34 townhomes in the Windsor CMA, up 53 per cent from the same period in 2010.

As Canada's national housing agency, CMHC draws on 65 years of experience to help Canadians access a variety of high 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 informed decisions.

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

¹Statistics 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.

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