Toronto, December 10, 2012
Toronto, December 10, 2012 – Housing starts in Toronto Census Metropolitan Area were trending at 6 month moving average of the monthly seasonally changed yearly rates ( SAAR ) of housing starts. Housing starts in Toronto are predicted to continue trending lower thru the initial half of next year,” claimed Shaun Hildebrand, CMHC’s Senior Market Analyst for Toronto. The standalone monthly SAAR was 37,100 units in Nov, down from 45,400 in October. Sometimes, analysing only SAAR data can be tricking in some markets, as they’re largely driven by the multiples wedge of the markets which can sometimes be quite variable from one Month to the next. The multiples segment includes flats, rows and semi-detached homes.
Single detached starts added 957 real units while multiple starts totalled 2,341 tangible units in
Nov 2012. Singles were lower than in November of last year while multiples were higher. Yearto-date total starts have reached 43,838 actual units, which is ahead of the pace set last year due to
stronger multiple starts.
As Canada’s nationwide housing agency, CMHC draws on more than Sixty five years of expertise to help
Canadians access a selection of quality, environmentally tolerable and cheap housing solutions.
CMHC also provides reliable, unbiased and up-to-date home market reports, analysis and
data to support and aid consumers and the housing industry in making smart choices.