July 2013 Housing starts in Ontario
TORONTO, ONTARIO`(Marketwired ` Aug. 9, 2013) - Housing starts in the Ontario region were trending up at 58,376 units in July, compared to 55,653 in June, 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.
`A pullback in Ontario`s housing construction seems to have stopped for now. Ontario`s housing starts trend, which is down from last year, has been essentially flat for four months. The latest month`s home starts trend is up a little, with multiple family construction,mostly apartment condominiums, leading the way. Home prices are high, so it is not surprising that the more affordable new home types, such as condominium apartments, have been very popular,` said Alex Medow, CMHC Ontario Senior Market Analyst.
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