Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

July 11, 2011 08:15 ET

June 2011 Housing Starts

OTTAWA, ONTARIO--(Marketwire - July 11, 2011) - The seasonally adjusted annual rate(1) of housing starts was 197,400 units in June, according to Canada Mortgage and Housing Corporation (CMHC). This is up from a revised 194,100 units in May 2011. April 2011 has also been revised to 194,100 units.

"Housing starts increased in June due to an increase in single and multiple starts in Ontario," said Bob Dugan, Chief Economist at CMHC's Market Analysis Centre. "The revised numbers show that housing starts have been above their trend line since March. However, we expect housing starts to move back towards levels consistent with demographic fundamentals in the near term."

The seasonally adjusted annual rate of urban starts increased by 2.2 per cent to 174,600 units in June. Urban single starts were up by 11.1 per cent in June to 70,900 units, while multiple urban starts decreased by 3.1 per cent to 103,700 units.

June's seasonally adjusted annual rate of urban starts increased by 24.1 per cent in Ontario, and by 5.6 per cent in the Atlantic region. British Columbia posted a decrease of 27.6 per cent over the same period, while urban starts decreased 3.6 per cent in Québec, and by 1.2 per cent in the Prairie region.

Rural starts(2) were estimated at a seasonally adjusted annual rate of 22,800 units in June.

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.

(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.

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: 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: Robyn Adamache, CMHC,
(604) 737-4144, radamach@cmhc-schl.gc.ca

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Housing Starts, Actual and SAAR*
Actual SAAR
June
2010
June
2011
May
2011
June
2011
Revised Preliminary Revised Preliminary
Canada, all areas 17,529 18,232 194,100 197,400
Canada, rural areas 2,183 2,250 23,300 22,800
Canada, urban centres** 15,346 15,982 170,800 174,600
Canada, singles, urban centres 7,835 7,287 63,800 70,900
Canada, multiples, urban centres 7,511 8,695 107,000 103,700
Atlantic region, urban centres 1,012 1,051 9,000 9,500
Québec, urban centres 4,223 3,816 44,400 42,800
Ontario, urban centres 4,957 6,390 55,600 69,000
Prairie region, urban centres 3,058 2,866 32,500 32,100
British Columbia, urban centres 2,096 1,859 29,300 21,200
Source: CMHC
*Seasonally adjusted annual rates
** Urban centres with a population of 10,000 and over.
Detailed data available upon request

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