Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

August 09, 2011 08:15 ET

Sudbury Starts Weaker in July

GREATER SUDBURY, ONTARIO--(Marketwire - Aug. 9, 2011) - Single-detached home starts in July were off 16 per cent from the same month in 2010 according to data released today by Canada Mortgage and Housing Corporation (CMHC).

"The 31 single-detached home starts in July brought the single-detached year-to-date total to 166 units, off 5.7 per cent from last year's first seven months," stated Warren Philp, CMHC's Northern Ontario Market Analyst. "Not only were July starts down from last year, but they were also behind the ten-year average for July," added Philp.

The July year-over-year housing starts' decline came after a strong month in June; however, a significant softening trend in the Sudbury new home construction market is not expected. Good employment growth and a balanced resale market continues to buoy new construction as many home buyers turn to the new home market to satisfy their housing needs.

To view the bar graph associated with this release, please click the following link: http://media3.marketwire.com/docs/chmcgraphs.pdf.

URBAN HOUSING STARTS
JULY
Single Family Semis, Rows, Condos and Apartments Total
2010 2011 % chg 2010 2011 % chg 2010 2011 % chg
Sudbury 37 31 -16.2 0 4 *** 37 35 -5.4
YEAR-TO-DATE: JANUARY TO JULY
Single Family Semis, Rows, Condos and Apartments Total
2010 2011 % chg 2010 2011 % chg 2010 2011 % chg
Sudbury 176 166 -5.7 84 48 -42.9 260 214 -17.7
Source: CMHC

As Canada's national housing agency, CMHC draws on 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable homes. 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.

Aussi disponible en français

Our next Housing Starts press release will be August 2011, coming on September 9, 2011. CMHC's national web-site is located at www.cmhc.ca.

Contact Information

  • Canada Mortgage and Housing Corporation
    Warren Philp
    Thunder Bay
    (877) 349-3688
    wphilp@cmhc.ca

    En francais
    Canada Mortgage and Housing Corporation
    Sandra Perez-Torres
    (613) 748-5120
    sperezto@schl.ca

    Canada Mortgage and Housing Corporation
    Shaun Hildebrand
    Ontario
    (416) 218-3466
    shildebr@cmhc.ca

    Canada Mortgage and Housing Corporation
    Charles Sauriol
    Canada
    (613) 748-2799
    csauriol@cmhc.ca
    www.cmhc.ca