Toronto: Housing Starts, preliminary data from CMHC

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The seasonally-adjusted annual rate (SAAR) of total housing starts dipped down to 19,800 units in July according to preliminary housing starts data released today by the Canada Mortgage and Housing Corporation (CMHC) for theToronto Census Metropolitan Area (CMA).

All low-rise housing segments recorded increasesin July, which brought total starts within 20 per cent of last year’s July figure. Strong demand and a fleeting supply of new resale listings have created a spill-over of buyers into the new home market in recent months.

CMHC’s Senior Market Analyst for the GTA, Shaun Hildebrand, stated in this latest report "Look for this sales momentum and a sizeable backlog of high-rise units nearing the construction stage to boost starts in thesecond half (of the period)”