Canadian Housing Starts Inch Up in June

By Rich Christianson | Posted: 07/14/2013 11:43AM

 

OTTAWA, ON - New home starts in Canada remained virtually flat in June, increasing by 0,002% to a seasonally adjusted annual rate of 184,514 units, 427 more than in May, according to the Canada Mortgage and Home Corporation (CMHC).

“As expected, the trend in total housing starts remained essentially stable in June, for a third consecutive month," said Mathieu Laberge, deputy chief economist of CMHC. "This reflects general stability in regional trends over the same period. As a result, the trend in national housing activity remains close to its historical average and is in-line with estimates of household formation.

Laberge noted that housing start gains registered in British Columbia were offset by declines in other regions of Canada.

Urban housing starts, which account for nearly 90% of all Canadian new home activity, decreased by 2.7% in June. This includes a 4.1% drop in single-family starts and a 2.0% in multi-family dwellings.

 

About the Author

Rich Christianson

Rich Christianson is Associate Publisher and Editor at Large of Woodworking Network. During his 25+ years covering the wood products industry, Rich has toured hundreds of manufacturing plants throughout North America, Europe and Asia. His reporting has covered everything from the state of the industry and impact of wood imports to technology and environmental issues. In his current capacity he is responsible for editing the daily Woodworking Network Update newsletter and coordinating events including the annual Cabinets & Closets Conference & Expo and Canada’s biennial Woodworking Machinery & Supply Expo. He can be contacted at rchristianson@woodworkingnetwork.com or follow him on Google+.

Read more of Rich Christianson's blogs.


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