February results for new housing starts in GTA area inverted recent negative trend. According to CMHC statistic released recently, there were 2,514 new units announced in February 2010. This number is 65% higher than in February 2009.
The biggest rebound was delivered by the single-detached segment, which more than doubled. Also condos and apartment projects starts were important part of the jump in February. High rise construction starts provided more than a half of overall starts.
Due to lower inventory levels, cleaned by rising demand, housing starts trend is supposed to keep this pace for the rest of 2010.