Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

March 08, 2010 08:15 ET

February Housing Starts

OTTAWA, ONTARIO--(Marketwire - March 8, 2010) - The seasonally adjusted annual rate(1) of housing starts reached 196,700 units in February 2010. This is an increase from an annual rate of 185,400 units in January 2010, according to Canada Mortgage and Housing Corporation (CMHC).

"The gain in February housing starts was concentrated in the multiple starts segment, particularly in Toronto," said Bob Dugan, Chief Economist at CMHC's Market Analysis Centre.

The seasonally adjusted annual rate of urban starts increased by 9.0 per cent to 179,100 units in February. Urban multiple starts increased by 19.1 per cent to 89,900 units while single urban starts increased by 0.5 per cent to 89,200 units.

February's seasonally adjusted annual rate of urban starts increased by 28.6 per cent in Ontario, by 14.3 per cent in Atlantic Canada, by 10.8 per cent in the Prairie region and by 8.0 per cent in British Columbia. In Quebec, the seasonally adjusted annual rate of urban starts decreased by 14.1 per cent.

Rural starts were estimated at a seasonally adjusted annual rate of 17,600 units in February(2).

As Canada's national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of 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, visit www.cmhc.ca or call 1-800-668-2642.

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The figure "Housing Starts in Canada - All areas" is available on Marketwire's website at the following address: http://media3.marketwire.com/docs/chmc_eng.jpg

Housing Starts, Actual and SAAR*
  Actual SAAR
February
2009
February
2010
January
2010
February
2010
  Final Preliminary Final Preliminary
Canada, all areas 6,299 10,983 185,400 196,700
  Canada, rural areas 639 622 21,100 17,600
  Canada, urban centres** 5,660 10,361 164,300 179,100
    Canada, singles, urban centres 2,114 4,383 88,800 89,200
    Canada, multiples, urban centres 3,546 5,978 75,500 89,900
         
    Atlantic region, urban centres 272 430 8,400 9,600
    Quebec, urban centres 1,410 1,947 48,100 41,300
    Ontario, urban centres 2,232 3,946 53,200 68,400
    Prairie region, urban centres 885 2,092 29,700 32,900
    British Columbia, urban centres 861 1,946 24,900 26,900
Source: CMHC
*Seasonally adjusted annual rates
** Urban centres with a population of 10,000 and over.
 Detailed data available upon request.

(1) All starts figures in this release, other than actual starts, are seasonally adjusted annual rates (SAAR) – that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels.

(2) CMHC estimates the level of rural starts for each of the three months of the quarter, at the beginning of each quarter. During the last month of the quarter, CMHC conducts the survey in rural areas and revises the estimate.

This release is also available on the CMHC Web site: http://www.cmhc-schl.gc.ca.

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