TORONTO HOUSING STARTS RISE IN JULY

TORONTO HOUSING STARTS RISE IN JULY
TORONTO, August 9, 2012 – Housing starts for the Toronto Census Metropolitan Area were trending
at 48,900 units in July according to the Canada Mortgage and Housing Corporation (CMHC). The
trend is a moving average of the monthly seasonally adjusted annual rates (SAAR)
1
of total starts
data. The standalone monthly SAAR was 51,700 units, up from 42,000 units in June.
“Strength in housing construction last month was shown across all housing types, with low density
starts moving up to their highest point of the year. Activity has been shifting towards relatively more
affordable pockets of the GTA. In particular, Brampton starts are running at a five-year high,” said
Shaun Hildebrand, CMHC’s Senior Market Analyst for the GTA.
For some markets, CMHC uses the trend measure as a complement to the monthly SAAR of housing
starts to account for considerable swings in monthly estimates and to obtain a more complete picture
of the state of the housing market. In some situations, analyzing only SAAR data can be misleading in
some markets, as they are largely driven by the multiples segment of the markets which can be quite
volatile from one month to the next.
As Canada’s national housing agency, CMHC draws on more than 65 years of experience to help
Canadians access a variety of high quality, environmentally sustainable and affordable housing
solutions. 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 informed decisions.

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