Canadian Housing Starts Up In April

Posted by Orb Staff on May 09, 2012 No Comments
Categories : Residential Mortgage

11507_canada Canadian Housing Starts Up In April The seasonally adjusted annual rate of Canadian housing starts was 244,900 units in April, up from 214,800 units in March, according to new data from the Canada Mortgage and Housing Corp. (CMHC).

The seasonally adjusted annual rate of urban starts increased by 18% to 226,200 units in April. Urban single starts increased modestly by 0.6% to 67,700 units. Meanwhile, multiple urban starts increased by 27.4% to 158,500 units.

April's seasonally adjusted annual rate of urban starts increased by 56.5% in Quebec, by 12.2% in Ontario, by 6.3% in the Prairies and British Columbia, and by 2.6% in Atlantic Canada. In each region, the CMHC determined that the increase was mainly due to multiple starts. Meanwhile, single-detached starts decreased in April in all regions, with the exception of Ontario with a 7.9% increase.

Rural starts were estimated at a seasonally adjusted annual rate of 18,700 units in April.

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