Toronto Housing Starts Slow in November
There were 2,743 homes started in the Greater Toronto Area (GTA) in November. A relatively slow month with total starts 27 percent below the average November level since 2000. This decrease in starts was largely due to a slowing of condominium apartment starts to just 621, less than half of the number started in the same month a year earlier and the lowest monthly result seen in 2011. Slower condominium starts in the Former City of Toronto were the main contributor to the reduction, although the York Region also posted a slower month than a year prior. Although November was a slow month, 2011 has been a very strong year for the condominium market in the GTA. Year to date starts of 17,697 are 52% higher than in 2010 and the second highest level on record since 1990.