Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

July 10, 2012 08:15 ET

Second Quarter Housing Starts Down in Peterborough

TORONTO, ONTARIO--(Marketwire - July 10, 2012) - Canada Mortgage and Housing Corporation (CMHC) released preliminary second quarter 2012 new home construction figures for the Peterborough Census Metropolitan Area (CMA) today. Builders started 54 homes during the second quarter of this year, down from 117 starts in the second quarter of 2011. All of the starts this quarter were single-detached and row-housing.

"Year- to-date starts were lower mainly due to less construction in the City of Peterborough," said CMHC's Market Analyst, Anthony Passarelli. "Buyers appear to be turning to more affordable alternatives in the resale market. Although starts in the city were down this quarter, starts in all other areas of the CMA were up."

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of 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/peterborough_stats.pdf

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