December Housing Starts in Canada

The seasonally adjusted annual rate of housing starts was 171,500 units in December, according to Canada Mortgage and Housing Corporation (CMHC). This is down from 198,200 units in November. Actual housing starts for 2010 are being verified and will be reported in the January edition of Monthly Housing Statistics.

“Housing starts moved lower in December due to the multiple starts segment, especially in Ontario,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “Single-detached starts were also down, but minimally.”

The seasonally adjusted annual rate of urban starts decreased by 13.3 per cent to 149,100 units in December. Urban multiple starts moderated by 20.1 per cent in December to 84,500 units, while single urban starts moved lower by 2.6 per cent to 64,600 units.

December’s seasonally adjusted annual rate of urban starts decreased by 45.4 per cent in Ontario and by 9.8 per cent In Atlantic Canada. Urban starts increased by 46.8 per cent in British Columbia, by 13.5 per cent in Québec, and by 0.7 per cent in the Prairie Region.

Rural starts were estimated at a seasonally adjusted annual rate of 22,400 units in December.

Constantine Isslamow

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