CMHC release housing statistics
By on Dec 09, 2010
The Canadian Mortgage and Housing Corporation released its November Housing Statistics.
The seasonally adjusted annual rate of housing starts was 187,200 units in November, up from 167,800 units in October, a significant increase.
“Housing starts moved higher in November primarily due to a strong increase in urban multiple starts in Ontario,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “The increase in Ontario’s November housing starts was more than enough to offset declines in all other regions of the country.”
The biggest contributor to this increase is the number of major condominium projects located in the Toronto area.
Looking ahead to 2011, the expectation is that the housing starts will become more aligned with demand, which is estimated at 175,000 units per year.
The Canadian Mortgage and Housing Corporation is Canada's national housing agency. They are committed to Canadians having a wide variety of affordable homes at their disposal. They also work to improve the finance options offered to Canadians.
For more information on the Canadian Mortgage and Housing Corporation, click here.
