Wednesday, December 30, 2009

CMHC Reports on GTA housing starts

This graph and text shows that the housing starts in the GTA were up for
most of 2009 and down in November.

New Home Market

Housing Starts Move Lower in


Total housing starts in the Greater Toronto Area (GTA) fell to 2,514 units
in November, following three straight months of increases.

Starts so far this year are down by 40 percent compared to the same period
last year, but have shown improvement in the second half. Last month,
single, semi and row starts each rose to their

highest level this year. As a result of the increased demand for low-rise
housing, construction in areas such as Vaughan and Brampton has improved the

The decline in November came as a result of fewer apartment starts, which
tend to show volatility from month-to-month.

Nonetheless, the trend has been moving higher since May and a rebound in new
home sales this year point towards higher starts as we move into 2010.

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