Oshawa New Home Construction Steady in January

TORONTO, ONTARIO--(Marketwire - Feb. 8, 2012) - According to Canada Mortgage and Housing Corporation (CMHC), construction began on a total of 102 homes in January in the Oshawa Census Metropolitan Area (CMA). Starts last month were more than double the number recorded in the same period last year, yet in line with the 10-year average for January.

"New home construction in Oshawa has remained within a tight range over the past few years and in line with underlying demand and supply conditions in the area. No major changes are foreseen for construction levels in the near future," said Inna Breidburg, Market Analyst with CMHC's Ontario Business Centre.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. 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. CMHC Market Analysis standard reports are also available free for download at CMHC Housing Market Information.

To view the table and the graph associated with this release, please visit the following link: http://media3.marketwire.com/docs/osa1207.pdf