September 8th - 2009

Ontario home starts down in July

The Ontario preliminary Seasonally Adjusted Annual Rate (SAAR) of home starts across all areas declined to an estimated 39,100 units in July, down from 45,800 units in June, reports the CMHC.

The Ontario preliminary Seasonally Adjusted Annual Rate (SAAR) of home starts across all areas declined to an estimated 39,100 units in July, down from 45,800 units in June, reports the CMHC. Declining residential construction activity in Ontario dragged Canada home starts lower reaching 132,100 units in July, down from 137,800 units the previous month. The biggest drag on construction activity came from the multifamily home segment, which includes semi detached homes, town homes and apartments. With the exception of the Thunder Bay and Guelph new home markets, all other Ontario centres posted declines in construction activity from the same month one year ago.

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