CMHC: July 2011 Housing Starts

OTTAWA, ONTARIO--(Marketwire - Aug. 9, 2011) - The seasonally adjusted annual rate(1) of housing starts was 205,100 units in July, according to Canada Mortgage and Housing Corporation (CMHC). This is up from 196,600 units in June 2011.

"Housing starts rose in July due to an increase in multiple starts in all regions except Quebec," said Mathieu Laberge, Deputy Chief Economist at CMHC's Market Analysis Centre. "The multiples sector showed continued strength in Ontario and a significant increase in British Columbia and in the Atlantic region."

The seasonally adjusted annual rate of urban starts increased by 4.7 per cent to 185,200 units in July. Multiple urban starts were up by 13 per cent to 120,200 units, while urban single starts decreased by 7.8 per cent in July to 65,000 units.

July's seasonally adjusted annual rate of urban starts increased by 36.1 per cent in the Atlantic region, by 33 per cent in British Columbia, and by 1.7 per cent in Ontario. Quebec posted a decrease of 7.8 per cent over the same period, while urban starts decreased by 0.3 per cent in the Prairie region.

Rural starts(2) were estimated at a seasonally adjusted annual rate of 19,900 units in July.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. 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 informed decisions.

For more information, visit http://www.cmhc-schl.gc.ca or call 1-800-668-2642.

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

For regional starts information contact:

Atlantic provinces: Alex MacDonald, CMHC,

(902) 426-8964, amacdona@cmhc-schl.gc.ca

Quebec: Francis Cortellino, CMHC,

(514) 283-8391, fcortell@cmhc-schl.gc.ca

Ontario: Shaun Hildebrand, CMHC,

(416) 218-3466, shildebr@cmhc-schl.gc.ca

Prairie provinces: Richard Cho, CMHC,

(403) 515-2996, rcho@cmhc-schl.gc.ca

British Columbia: Carol Frketich, CMHC,

(604) 737-4067, cfrketic@cmhc-schl.gc.ca

A graph is available at the following address: http://media3.marketwire.com/docs/Graph_0809.pdf

Housing Starts, Actual and SAAR*
			Actual		SAAR
			July 2010	July 2011	June 2011	July 2011
			Revised	Preliminary	Revised	Preliminary
Canada, all areas			18,142	18,679	196,600	205,100
	Canada, rural areas		2,195	2,193	19,700	19,900
	Canada, urban centres**		15,947	16,486	176,900	185,200
		Canada, singles, urban centres	7,206	6,396	70,500	65,000
		Canada, multiples, urban centres	8,741	10,090	106,400	120,200
		Atlantic region, urban centres	1,348	1,318	9,700	13,200
		Quebec, urban centres	4,157	3,406	42,500	39,200
		Ontario, urban centres	4,949	6,432	71,700	72,900
		Prairie region, urban centres	3,694	2,883	31,800	31,700
		British Columbia, urban centres	1,799	2,447	21,200	28,200

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) 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.