TORONTO – Canada Mortgage and Housing Corporation (CMHC) released preliminary housing starts data for the Kitchener Census Metropolitan Area (CMA). Construction began on 90 homes in January, down from the 128 units started in the same month last year.

Builders poured 68 single-detached foundations in January, down from the 91 units started in January 2008. Although starts deceased overall, Cambridge recorded higher starts in January.

“A slowing economy has translated into a decrease in starts for January”, said Erica McLerie, Senior Market Analyst for the Kitchener CMA. “In addition, with a high level of listings in the resale market, buyers still looking to purchase a home are likely to find what they need in the existing home market,” added McLerie.