Toronto Housing Starts Up in January

TORONTO, ONTARIO--(Marketwire - Feb. 8, 2011) - The seasonally-adjusted annual rate (SAAR) of total housing starts for the Toronto Census Metropolitan Area increased to 25,400 units in January from a revised 18,600 units in December, according to preliminary housing starts data released today by the Canada Mortgage and Housing Corporation (CMHC).

To view the graph "January Housing Starts 2009-2011", please visit the following link: http://media3.marketwire.com/docs/1tor208.pdf

"The very respectable number of apartment units started at this time of year should be taken as a sign of things to come for 2011," said Shaun Hildebrand, CMHC's Senior Market Analyst for the GTA. "Sales of new condominium units reached their second highest level on record last year, indicating that many projects will be switching from the pre-sale to construction phase this year," added Hildebrand.

To view the table "Toronto CMA Summary of January 2011 Preliminary Starts Data", please visit the following link: http://media3.marketwire.com/docs/2tor208.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. 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.

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