Home > Market Update > CMHC DECEMBER 2012 HOUSING STARTS IN TORONTO

CMHC DECEMBER 2012 HOUSING STARTS IN TORONTO

Toronto, January 9, 2013 – Housing starts in Toronto Census Metropolitan Area were trending At 48,100 units in December, according to Canada Mortgage and Housing Company. The Trend is a six month moving average of the monthly seasonally altered annual rates ( SAAR ) 1 Of Housing starts. The standalone monthly SAAR was Fifty thousand units in December, up from 37,300 in Nov.
"December capped off a robust 2012 for housing starts, which were influenced by apartment pre-sales During 2011. However, starts for both singles and multiples have been usually trending lower during The past few months," said Shaun Hildebrand, CMHC’s Senior Market Analyst for Toronto. CMHC uses the trend measure as a complement to the monthly SAAR of housing begins to account for substantial swings in monthly guesses and obtain a more complete image of the state of the housing market. In some situations, analysing only SAAR info can be tricking in some markets, as they’re mostly driven by the multiples portion of the markets which can sometimes be quite variable from one Month to the next. The multiples segment includes apartments|flats|residences}, rows and semi-detached homes. Single detached starts added 976 tangible units while multiple starts totalled 3,291 real units in December 2012. Singles were lower than in December of last year while multiples were higher. Yearend total starts reached 48,105 precise units in 2012, which is ahead of the 39,745 recorded for 2011.

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