Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

September 09, 2010 08:15 ET

August Housing Starts

OTTAWA, ONTARIO--(Marketwire - Sept. 9, 2010) - The seasonally adjusted annual rate(1) 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 units(2). 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 starts(3) 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.

A graph is available at the following address:  http://media3.marketwire.com/docs/Document1.pdf

Housing Starts, Actual and SAAR*
  Actual SAAR
August 2009 August 2010 July 2010 August 2010
  Revised Preliminary Revised Preliminary
Canada, all areas 14,472 16,509 188,900 183,300
  Canada, rural areas 1,738 2,256 19,900 20,500
  Canada, urban centres** 12,734 14,253 169,000 162,800
    Canada, singles, urban centres 5,581 6,123 67,400 65,000
    Canada, multiples, urban centres 7,153 8,130 101,600 97,800
         
    Atlantic region, urban centres 907 847 12,400 8,800
    Quebec, urban centres 3,565 2,822 46,400 38,200
    Ontario, urban centres 4,260 5,524 51,400 59,400
    Prairie region, urban centres 2,490 2,807 38,700 31,000
    British Columbia, urban centres 1,512 2,253 20,100 25,400

 

  • 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. By removing seasonal ups and downs, seasonal adjustment makes it possible to highlight the fundamental trends of a series. Reporting monthly figures at annual rates indicates the annual level of starts that would be obtained if the monthly pace was maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels.

(2) The revision reflects new survey data collected for centres with a population of 10,000 to 49,999. CMHC estimates the level of starts in those centres at the beginning of each month. During the last month of the quarter, CMHC conducts the survey in these centres and revises the estimates. Revisions also stem from seasonal adjustment factors which are revised as new data are collected.

(3) CMHC estimates the level of starts in centres with a population of less than 10,000 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 these centres and revises the estimate.

For regional starts information contact:

Atlantic provinces: Alex MacDonald, CMHC,
 
(902) 426-8964, amacdona@cmhc-schl.gc.ca
 
Quebec: Kevin Hughes, CMHC,
 
(514) 283-4488, khughes@cmhc-schl.gc.ca
 
Ontario:
 
Ted Tsiakopoulos, CMHC,
 
(416) 218-3407, ttsiakop@cmhc-schl.gc.ca
 
Prairie provinces:
 
Lai Sing Louie, CMHC,
 
(403) 515-2991, llouie@cmhc-schl.gc.ca
 
British Columbia:
 
Carol Frketich, CMHC,
 
(604) 737-4067, cfrketic@cmhc-schl.gc.ca

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