Thunder Bay May Starts Equal to Last Year

THUNDER BAY, ONTARIO--(Marketwire - June 8, 2012) - According to preliminary data released today by Canada Mortgage and Housing Corporation (CMHC), there were 22 single-detached Thunder Bay starts in May, even with the 22 started in May 2011.

"The 22 single-detached starts are slightly higher than the ten year average for the month of May. Year-to-date single home starts amount to 41 units, four units more than the first five months of 2011. A slow start to semi-detached, row and apartment construction leaves those totals at half the previous year's levels. More higher-density housing starts are expected as the year progresses given the pent-up demand that exists for condominiums," 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/cmh_tbay_data.pdf

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