GTA Housing Starts in November 2009

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December 30, 2009

Canada Mortgage and Housing Corporation has released a new, 47-pages long report about housing starts in GTA in November 2009. Unfortunately, the statistics do not seem to be very positive. Housing starts have actually decreased to 2,514 units last month, following three increases in a row.

If we compare the starts in the same months of years 2008 and 2009, they are down by quite significant numbers, even 40 percent, this year. The statistics were improving during the year though, thus the second half of 2009 has more positive results than the first one. Especially October was successful. Single, semi and row starts all increased to their highest levels of 2009 in that month.

The November decrease isn’t great, of course, but I wouldn’t worry about it very much. Three consequent rises are really good and I think we can expect to hear or read positive stats from the very end of 2009 continuing in 2010, as the market is getting better and healthier.