TORONTO, ONTARIO--(Marketwire - March 8, 2010) - The seasonally-adjusted annual rate (SAAR) of total housing starts bounced back by 66 percent to 34,100 units in February according to preliminary housing starts data released today by the Canada Mortgage and Housing Corporation (CMHC) for the Toronto Census Metropolitan Area (CMA).

"Starts for both condo and rental apartment projects in the city provided a boost for new construction in Toronto last month," said Shaun Hildebrand, CMHC's Senior Market Analyst for the GTA. "On average, housing starts are expected to remain near the current level for the remainder of the year. The strength in housing demand has brought unsold inventory down to more normal levels, which should continue to support a healthy amount of new construction," added Hildebrand.

Please note: To view the February Housing Starts graph, please visit the following link: http://media3.marketwire.com/docs/febhousingstarts.jpg.

As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions. For more information, visit www.cmhc.ca or call 1-800-668-2642.

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