Toronto Housing Starts Begin 2012 Strong

TORONTO, ONTARIO--(Marketwire - Feb. 8, 2012) - The seasonally-adjusted annual rate (SAAR) of total housing starts for the Toronto Census Metropolitan Area increased to 46,700 units in January, according to preliminary housing starts data released today by the Canada Mortgage and Housing Corporation (CMHC). Housing construction in Toronto has carried forward its strength from 2011 into the New Year.

"While new home starts remain boosted by activity in the condo market, the slowing in single-detached construction is in line with more moderate levels of ownership demand expected this year," said Shaun Hildebrand, CMHC's Senior Market Analyst for the GTA.

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.

(Ce document existe également en français)

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