Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

August 09, 2012 08:15 ET

Oshawa New Home Starts Slow in July

TORONTO, ONTARIO--(Marketwire - Aug. 9, 2012) - According to Canada Mortgage and Housing Corporation (CMHC), new construction in July slowed to a total of 141 homes in the Oshawa Census Metropolitan Area (CMA), 31 per cent lower than the same period last year. While all housing forms in July recorded fewer home starts, the single-detached segment experienced the most pronounced decline.

"The weakening employment trend seen in Oshawa over the past few months appears to have translated into slower demand for new housing. Nevertheless, the area's relative affordability advantages should continue to provide support to the local new home construction industry," 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.

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