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Toronto Real Estate Market (January 2012)

TORONTO HOUSING STARTS BEGIN 2012 STRONG

TORONTO, February 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.

Source: Canada Mortgage and Housing Corporation

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