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May 2014 Housing Starts in Ontario
TORONTO, ONTARIO`(Marketwired ` June 9, 2014) - Housing starts in the Ontario region were trending at 55,583 units in May, compared to 54,500 units in April, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)[sup]1[/sup] of housing starts.
`While total residential construction activity remained stable in May, low density starts, which includes single detached, semi detached and row construction reached their highest levels in over a year. Low resale and new home inventories for low density housing, continued low interest rates and improving income growth remain supportive of low density construction across the province,` said Ted Tsiakopoulos, CMHC`s Ontario Regional Economist.
Read the full article here.
TORONTO, ONTARIO`(Marketwired ` June 9, 2014) - Housing starts in the Ontario region were trending at 55,583 units in May, compared to 54,500 units in April, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)[sup]1[/sup] of housing starts.
`While total residential construction activity remained stable in May, low density starts, which includes single detached, semi detached and row construction reached their highest levels in over a year. Low resale and new home inventories for low density housing, continued low interest rates and improving income growth remain supportive of low density construction across the province,` said Ted Tsiakopoulos, CMHC`s Ontario Regional Economist.
Read the full article here.