OTTAWA -- Canada's seasonally adjusted annual rate of housing starts declined 6.7% in May, according to Canada Mortgage and Housing Corp. (CMHC).
CMHC said the rate of new housing in May was 189,100, versus 201,800 in April
“Housing starts decreased in both the singles and the multiples segments in May,” said Bob Dugan, chief cconomist at CMHC’s Market Analysis Centre. “The decrease in housing starts in May is consistent with our forecast that housing starts for 2010 will reach 182,000 units.”
May’s seasonally adjusted annual rate of urban starts decreased 21.8% in the Prairie region, 13% in Quebec, 12.9% in British Columbia, and 2.7% in Ontario. Urban starts increased 23.3% in Atlantic Canada.
Read the Canada Mortgage and Housing Corporation's press release.
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