Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

April 08, 2011 08:15 ET

CMHC: March Housing Starts in Vancouver CMA

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 8, 2011) - Canada Mortgage and Housing Corporation (CMHC) reports that March 2011 housing starts in the Vancouver Census Metropolitan Area (CMA) increased compared to the same month a year ago, totalling 958 homes. Most of these home starts were located in the Surrey, Richmond and the City of Vancouver.

"Multiple family home starts made up the majority of housing starts in the CMA during the first quarter," noted Robyn Adamache, CMHC's Senior Market Analyst.

An increase in multiple family home starts had the Abbotsford CMA record 107 housing starts in March, up from the 44 housing starts recorded during the same month a year ago.

Nationally, the seasonally adjusted annual rate1 of total housing starts increased to 188,800 units in March, from 183,700 units in February. In British Columbia, March's seasonally adjusted rate of urban housing starts moved lower to 18,000 units from 23,500 units in the previous month.

As Canada's national housing agency, CMHC draws on 65 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, and to download CMHC's housing reports, please visit CMHC's website at www.cmhc.ca/housingmarketinformation or call 1-800-668-2642.

Preliminary housing starts numbers are summarized in the attached tables.

To view the map and tables accompanying this press release please click on the following link: http://media3.marketwire.com/docs/c48bi.pdf

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1 Seasonally-adjusted annual rates (SAARs) are monthly housing starts figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels. This facilitates the comparison of the current pace of activity to annual forecasts as well as to historical annual levels.

Contact Information

  • Canada Mortgage and Housing Corporation
    Robyn Adamache
    Senior Market Analyst
    (604) 737-4144 or Cell: (604) 787-9659
    radamach@cmhc.ca
    www.cmhc.ca