Ottawa Housing Starts Moderate in August

OTTAWA, ONTARIO--(Marketwire - Sept. 11, 2012) - According to the latest preliminary data released by Canada Mortgage and Housing Corporation (CMHC), housing starts in the Ottawa Census Metropolitan Area (CMA) totalled 374 units in August down from 650 units started a year ago this time.

"Following a very strong second quarter and relatively slower demand for new homes at builders' sales office, new construction in the Ottawa CMA moderated for all housing types. Although, year-to-date numbers post a healthy 30 per cent increase when compared to last year, the decelerating trend is expected to continue until the end of year for all housing types," said Sandra Pérez Torres, Senior Market Analyst at CMHC.

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 statistics associated with this press release, please visit the following link: http://media3.marketwire.com/docs/ottawa_statistics.pdf

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