Canadian Housing Starts Up In February

Posted by Orb Staff on March 11, 2013 No Comments
Categories : Residential Mortgage

13443_canada Canadian Housing Starts Up In February Housing starts in Canada were trending at 195,087 units in February, according to new data from the Canada Mortgage and Housing Corp. (CMHC).

The CMHC's trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts. The SAAR of urban starts rose by 18.4% in February to 161,631 units, led by a 27.7% increase in multiple urban starts to 99,022 units. Single urban starts rose by 6.1% to 62,609 units in February.

February's seasonally adjusted annual rates of urban starts increased in Ontario (46.8%), Quebec (34.9%), British Columbia (2.1%) and in the Prairies (1.5%). Urban starts declined in Atlantic Canada (-31.7%). Rural starts were estimated at a SAAR of 19,088 units in February.

‘The trend in total housing starts continued to moderate in February. Moderation in economic fundamentals in the second half of 2012 has led to more modest housing demand and builders are adjusting accordingly,’ said Mathieu Laberge, deputy chief economist at the CMHC. ‘Monthly SAAR housing starts moved closer to the six month trend in February, up from January levels, due to a rebound in Ontario and Quebec multifamily starts.’

Register here to receive our Latest Headlines email newsletter




Leave a Comment

Canadian Housing Starts Up In February

Posted by Orb Staff on March 08, 2012 No Comments
Categories : Residential Mortgage

11070_canada Canadian Housing Starts Up In February The seasonally adjusted annual rate of Canadian housing starts was 201,100 units in February, according to Canada Mortgage and Housing Corp. (CMHC). This is up from 198,100 units in January.

The seasonally adjusted annual rate of urban starts increased by 3.4% to 182,800 units in February. Urban single starts rose by 3.5% to 67,400 units, while multiple urban starts were up by 3.3% to 115,400 units. Rural starts were estimated at a seasonally adjusted annual rate of 18,300 units in February.

According to the CMHC, factors contributing to the increase in housing starts include a rise in multiple housing starts in Quebec and, to a lesser extent, in British Columbia.

‘Increases in these provinces were partially offset by decreases in multiple starts in Ontario and Atlantic Canada,’ says Mathieu Laberge, deputy chief economist at CMHC's Market Analysis Center. ‘Multiple housing starts in Quebec had fallen nearly 50 percent in January, so February's rise can be seen as a return to a more normal rate of construction.’

Register here to receive our Latest Headlines email newsletter




Leave a Comment

Canadian Housing Starts Up In February

Posted by Orb Staff on March 08, 2011 No Comments
Categories : Residential Mortgage

The seasonally adjusted annual rate of Canadian housing starts was 181,900 units in February, according to Canada Mortgage and Housing Corp. (CMHC). This is up from 170,600 units in January 2011.

The seasonally adjusted annual rate of urban starts increased by 9.4% to 161,000 units in February. Urban multiple starts were up by 14.5% in February to 94,900 units, while single urban starts edged higher by 3% to 66,100 units. Rural starts were estimated at a seasonally adjusted annual rate of 20,900 units in February.

Ontario had the highest urban starts for the month (up 29.3%), while the provinces within the Atlantic Canada region were down 24.7%.

SOURCE: CMHC

Register here to receive our Latest Headlines email newsletter




Leave a Comment