Hamilton's housing starts are off when you compare last December to December of 2011, but when you take a look at all of 2012, the numbers are actually up.
Canada Mortgage and Housing Analyst Abdul Kargbo says there are a number of factors that come into play.
One is the migration of Toronto homewoners to Hamilton because of the lower prices.
Kargbo says fewer resale listings also plays a role.
Low mortgage rates are a key reason for Hamilton's stability and CMHC sees the rates staying low into next year.