Sudbury January Starts Top January 2010

GREATER SUDBURY, ONTARIO--(Marketwire - Feb. 8, 2011) - Residential building in Sudbury started strongly this year with ten single-detached housing starts counted in January according to preliminary figures released today by Canada Mortgage and Housing Corporation (CMHC). The ten single-detached housing starts are three units better than the ten-year average of seven in the Sudbury market.

"Momentum from last year's improved performance contributed to the good month," stated Warren Philp, CMHC Northern Ontario Market Analyst. "Along with being an above-average month, starts were up three units from last January. After a weak 2009, Greater Sudbury single-detached housing starts rose in 2010. Low mortgage rates, demand in move-up home-buying ranges and an improved job market continue to spur Greater Sudbury starts. Move-up buyers wanting a house type not available on the resale market are partially fuelling demand."

To view the graph associated with this release, visit the following link: http://media3.marketwire.com/docs/sudbury_graph208.pdf.

To view the table associated with this release, visit the following link: http://media3.marketwire.com/docs/sudbury_table.pdf.

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 — homes that will continue to create vibrant and healthy communities and cities across the country.

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Our next Housing Starts press release will be February 2011, coming on March 8, 2011. CMHC's national web-site is located at www.cmhc.ca.