OTTAWA, ON --The seasonally adjusted annual rate of Canadian housing starts hit 183,600 units in May, up 2.3% from April, according to Canada Mortgage and Housing Corporation (CMHC).
“Housing starts increased modestly in May due to an increase in multiple construction in most provinces and in rural starts,” said Bob Dugan, chief economist at CMHC’s Market Analysis Centre. “The increase in multiples and rural starts was partly off-set by a decrease in single starts.”
The seasonally adjusted annual rate of urban starts increased by 0.8% to 161,000 units in May. Urban multiple starts were up by 4.0% in May to 100,000 units, while single urban starts decreased by 4.1% to 61,000 units.
May’s seasonally adjusted annual rate of urban starts increased by 33.3% in British Columbia, by 13.5% in Québec, by 11.0% in the Atlantic region, and by 10.0% in the Prairie region. Ontario posted a decrease of 22.9% over the same period.
Posted by Rich Christianson
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