Canada Housing Starts Down In November

Canada Housing Starts Down In November Housing starts in Canada were trending at 214,680 units in November, according to Canada Mortgage and Housing Corp. (CMHC), continuing a downward trend.

‘As expected, housing starts remained below their recent trend and continued to fall for a third straight month,’ says Mathieu Laberge, deputy chief economist at CMHC. ‘This decrease was mainly attributable to declines in single-detached and multi-unit housing construction in Ontario and British Columbia, resulting in part from a decline in the pace of pre-sales relative to that in late 2010 and early 2011.’

The seasonally adjusted annual rate of urban starts decreased by 4% to 174,323 units in November. Urban single starts declined by 5.4% to 58,606 units, while urban multiple starts fell by 3.2% to 115,717 units.

November's seasonally adjusted annual rates of urban starts fell in Ontario (-14.3%), British Columbia (-16.5%) and Atlantic Canada (-45.6%). Urban starts rose in Quebec (15.4%) and the Prairies (16.1%). Rural starts were estimated at a seasonally adjusted annual rate of 21,802 units in November.


Please enter your comment!
Please enter your name here