According to a report released yesterday from the Canada Mortgage and Housing Corporation (CMHC), the seasonally adjusted annual rate of housing starts was 244,900 units in April, up from 214,800 in March.
An increase of 18% in April was due to an increase in the multiples segment according to the report. “…The increase in this segment is partly a reflection of the high level of pre-sales in large multi-unit projects since 2011, which is in line with job gains over the last year”, said Mathieu Laberge, Deputy Chief Economist at CMHC’s Market Analysis Centre.
Provincially, April saw seasonally adjusted annual rate of urban starts increasing by 56.5% in Quebec, 12.2% in Ontario, 6.3% in the Prairies and British Columbia and by 2.6% in Atlantic Canada.
For further details, please see the full report at CMHC http://cmhc.ca/en/corp/nero/nere/2012/2012-05-08-0815.cfm
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