Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

November 08, 2011 08:20 ET

Toronto Housing Starts Move Back Up in October

TORONTO, ONTARIO--(Marketwire - Nov. 8, 2011) - The seasonally-adjusted annual rate (SAAR) of total housing starts for the Toronto Census Metropolitan Area increased to 46,600 units in October, according to preliminary housing starts data released today by the Canada Mortgage and Housing Corporation (CMHC).

To view the chart, "Toronto CMA Housing Starts," please visit the following link: http://media3.marketwire.com/docs/enCMAstarts.pdf.

Last month the pace of housing starts in Toronto reached its second highest level of the year.

"Toronto housing starts have been moving in a see-saw pattern over the past six months, but have maintained a strong pace", said Shaun Hildebrand, CMHC's Senior Market Analyst for the GTA. "Last month saw the largest number of row homes started in over four years. Expect this form of housing to take on an increasing share of low density development in the years ahead," added Hildebrand.

To view the table, "Toronto CMA Summary of October 2011 Preliminary Starts Data," please visit the following link: http://media3.marketwire.com/docs/torENtab.pdf.

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.

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