September 9, 2010
OTTAWA, September 9, 2010 (Courtesy of cmhc.ca) — The seasonally adjusted annual rate1 of housing starts was 183,300 units in August, according to Canada Mortgage and Housing Corporation (CMHC). The seasonally adjusted annual rate estimate of housing starts activity was revised down in July from 189,200 units to 188,900 units2. This results in a month-over-month decrease of 3.0 per cent in August.
“Housing starts moved lower in August, reflecting a decrease in both single and multiple starts,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre.
The seasonally adjusted annual rate of urban starts decreased by 3.7 per cent to 162,800 units in August. Urban multiple starts moved lower by 3.7 per cent to 97,800 units, while single urban starts decreased by 3.6 per cent to 65,000 units.
Rural starts3 were estimated at a seasonally adjusted annual rate of 20,500 units.
As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.
For more information, call 1-800-668-2642. (Canda Mortgage and Housing Information)
direct (250) 870-3888
phone (250) 717-5000
toll free (800) 663-5770
fax (250) 860-0016