Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

December 08, 2010 08:15 ET

Toronto Housing Starts Jump in November

TORONTO, ONTARIO--(Marketwire - Dec. 8, 2010) - The seasonally-adjusted annual rate (SAAR) of total housing starts for the Toronto Census Metropolitan Area increased to 51,100 units in November according to preliminary housing starts data released today by the Canada Mortgage and Housing Corporation (CMHC).

"Last month more than made up for the weak showing in October and now pulls us ahead of total starts recorded for 2009," said Shaun Hildebrand, CMHC's Senior Market Analyst for the GTA. "All recent data points considered, the level of new housing construction in Toronto has flattened out at about 30,000 units a year, with clear momentum on the high-rise side. This trend is expected to remain in place next year" added Hildebrand.

As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of 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 vital decisions.

Aussi disponible en français

To view the "Toronto CMA November Housing Starts" graph, please visit the following link:

http://media3.marketwire.com/docs/torcma1.pdf

To view the "Toronto CMA Summery of November 2010 Preliminary Starts Data" table, please visit the following link:

http://media3.marketwire.com/docs/torcma2.pdf

Contact Information