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.