Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

July 09, 2009 23:59 ET

Housing starts increase in June

OTTAWA, July 9 - The seasonally adjusted annual rate(1) of
housing starts increased to 140,700 units in June from 130,300 units in May,
according to Canada Mortgage and Housing Corporation (CMHC).

"The increase in housing starts in June is broadly based, encompassing
both the singles and multiples segments," said Bob Dugan, Chief Economist at
CMHC. "In addition, Western Canada experienced an increase this month."

Housing starts are expected to improve throughout 2009 and over the next
several years to gradually become more closely aligned to demographic demand,
which is currently estimated at about 175,000 units per year.

The seasonally adjusted annual rate of urban starts increased 9.5 per
cent to 120,100 units in June. Urban multiple starts increased 11.3 per cent
to 67,000 units, while urban single starts also moved up by 7.3 per cent to
53,100 units in June.

June's seasonally adjusted annual rate of urban starts increased 59.4 per
cent in the Prairies, 25 per cent in British Columbia, and 3.1 per cent in
Ontario. Urban starts declined 6.3 per cent in Quebec, and 3.9 per cent in
Atlantic Canada.

Rural starts were estimated at a seasonally adjusted annual rate of
20,600 units in June(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 - homes that will continue to create vibrant
and healthy communities and cities across the country.

For more information, visit www.cmhc.ca or call 1-800-668-2642.



(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.

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Housing Starts, Actual and SAAR(*)
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Actual SAAR
---------------------------------------------
June June May June
2008 2009 2009 2009
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Final Preliminary Final Preliminary
-------------------------------------------------------------------------
Canada, all areas 20,809 13,743 130,300 140,700
Canada, rural areas 2,471 2,057 20,600 20,600
Canada, urban centres(xx) 18,338 11,686 109,700 120,100
Canada, singles, urban
centres 7,883 5,716 49,500 53,100
Canada, multiples, urban
centres 10,455 5,970 60,200 67,000

Atlantic region, urban
centres 1,092 904 7,700 7,400
Québec, urban centres 3,706 2,990 34,800 32,600
Ontario, urban centres 8,248 4,440 42,100 43,400
Prairie region, urban
centres 2,657 2,290 15,500 24,700
British Columbia, urban
centres 2,635 1,062 9,600 12,000
-------------------------------------------------------------------------
Source: CMHC
(*) Seasonally adjusted annual rates
(xx) Urban centres with a population of 10,000 and over.
Detailed data available upon request.

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