Toronto, December 10, 2012 - Housing starts in Toronto Census Metropolitan Area were trending at 46,700 units in November, according to Canada Mortgage and Housing Corporation. The trend is a six month moving average of the monthly seasonally adjusted annual rates ( SAAR ) of housing starts.
"New home construction has moderated during the last few months replying to slower demand and the number of apartments already under assembly.
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 picture of the state of the
home market. Housing starts in Toronto are expected to continue trending lower through the initial half of next year," claimed Shaun Hildebrand, CMHC's Senior Market Analyst for Toronto. The multiples segment includes flats, rows and semi-detached homes. Sometimes, analysing only SAAR data can be deceiving 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. Singles were lower than in November of last year while multiples were higher. Year to-date total starts have reached 43,838 precise 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 65 years of expertise to help
Canadians access a selection of quality, environmentally supportable and reasonable housing solutions.
CMHC also provides reliable, impartial and recent housing market reports, research and
information to support and help consumers and the housing industry in making enlightened choices.
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