OTTAWA, ON - Housing starts in Canada dipped by an almost imperceptible 0.6% in April to a seasonally adjusted annual rate of 183,515 units, according to the Canada Mortgage and Housing Corporation (CMHC).
“In April, the trend in housing starts was essentially stable at 183,515 units," said Mathieu Laberge, deputy chief economist of CMHC. "This is in line with CMHC’s analysis indicating that the new home construction market in Canada is headed for a soft landing in 2014. Over the remainder of the year, builders are expected to continue to adjust activity, particularly with respect to multiples, in order to manage inventory levels.”
The seasonally adjusted annual rate of urban starts for April increased in Ontario, the Prairies and Quebec, and decreased in Atlantic Canada and British Columbia.
Have something to say? Share your thoughts with us in the comments below.