There was a surge in Toronto Condos construction in January 2008, giving Canadian housing a huge start even as the US real estate market fizzled.

Multi unit construction was up 64% compared to a decrease of 4.85% of single unit starts.

Toronto Condominium starts in January, had an increase of 95% to a seasonally adjusted and annual pace compared to December 2007. The Toronto Home Builders are forecasting a start to the large backlog of high rise Condo projects that will increase overall sales in the coming months.

Toronto Condos are now the biggest market for any North American city. This should help go against the national declining trend forcast by the Canadian Mortgage and Housing Corp.

Canada is in better shape than the US market due to healthy employment levels, lower mortgage rates and increasing income gains.

Click on the photo and you will see a South view from Yonge and College towards the Lake. Thats the Eaton Centre in the foreground and further, the bigger Bank buildings. Just to the bottom right is where the new Aura:Residences of College Park 111, will be constructed, a welcome addition to Yonge and Gerrard.