Canadian Housing Starts Up In December

Posted by Orb Staff on January 10, 2012 No Comments
Categories : Residential Mortgage

10673_canada Canadian Housing Starts Up In December The Canadian housing market recorded a seasonally adjusted annual rate of 200,200 housing starts in December, according to Canada Mortgage and Housing Corp. (CMHC). This is up from 185,600 units in November 2011.

The seasonally adjusted annual rate of urban starts increased by 10.1% to 181,900 units in December. Urban single starts increased by 3.8% to 70,600 units, while multiple urban starts were up by 14.5% to 111,300 units.

Within Canada's provinces, December's seasonally adjusted annual rate of urban starts increased by 52.9% in Atlantic Canada, 35.3% cent in Ontario and by 9% in Quebec. However, urban starts decreased by 19.8% in British Columbia and 11% in the Prairies. Rural starts were estimated at a seasonally adjusted annual rate of 18,300 units in December.

Actual housing starts for 2011 are being verified and will be reported in the January edition of the CMHC's Monthly Housing Statistics.

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