Sudbury Starts Weaker in July

GREATER SUDBURY, ONTARIO--(Marketwire - Aug. 9, 2011) - Single-detached home starts in July were off 16 per cent from the same month in 2010 according to data released today by Canada Mortgage and Housing Corporation (CMHC).

"The 31 single-detached home starts in July brought the single-detached year-to-date total to 166 units, off 5.7 per cent from last year's first seven months," stated Warren Philp, CMHC's Northern Ontario Market Analyst. "Not only were July starts down from last year, but they were also behind the ten-year average for July," added Philp.

The July year-over-year housing starts' decline came after a strong month in June; however, a significant softening trend in the Sudbury new home construction market is not expected. Good employment growth and a balanced resale market continues to buoy new construction as many home buyers turn to the new home market to satisfy their housing needs.

To view the bar graph associated with this release, please click the following link: http://media3.marketwire.com/docs/chmcgraphs.pdf.

As Canada's national housing agency, CMHC draws on 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

Aussi disponible en français

Our next Housing Starts press release will be August 2011, coming on September 9, 2011. CMHC's national web-site is located at www.cmhc.ca.