Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

July 10, 2012 08:15 ET

Sudbury June Starts Wrap Up Weaker Quarter

GREATER SUDBURY, ONTARIO--(Marketwire - July 10, 2012) - According to preliminary data released today by Canada Mortgage and Housing Corporation, there were 37 single-detached housing starts in the Greater Sudbury Census Metropolitan Area (CMA) in June, down from 57 last June. For the quarter, starts were off 18 per cent from last year second quarter activity.

"Although new construction starts are down from 2011, expect activity to firm up thanks to strong demand in the resale market and more building permits in the pipeline. The resale market has begun 2012 strongly with existing home sales well ahead of 2011 and prices advancing. Given the growth in prices expect the market to lean towards higher density options," said Warren Philp, CMHC's Northern Ontario Market Analyst.

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/sudbury_stats.pdf

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Contact Information

  • Sandra Perez-Torres
    Senior Market Analyst, Eastern and Northern Ontario
    (613) 748-5120
    sperezto@schl.ca

    National Media Contact:
    Charles Sauriol, Senior Media Relations Officer
    (613) 748-2799
    csauriol@cmhc.ca