January Housing Starts

Photo by Horia Varlan 1
Photo by Horia Varlan

Canada Mortgage and Housing Corporation (CMHC) reported 170,400 new housing units in January 2011. This is a slight increase when compared to 169,000 units in December 2010. However, new housing activity in 2011 is predicted to decrease in comparison with the final result of 2010, when 189,300 new units were reported.

The January increase in new housing starts was based on higher activity in the rural segment; other housing segments recorded slight decreases.

The seasonally adjusted annual rate of urban starts decreased by 1.7 per cent to 146,900 units in January. Urban multiple starts moderated by 1.5 per cent in January to 82,900 units, while single urban starts moved lower by 2.0 per cent to 64,000 units.

January's seasonally adjusted annual rate of urban starts decreased by 19.0 per cent in the Prairie Region, by 7.9 per cent in British Columbia, and by 1.0 per cent in Québec. Urban starts increased by 13.3 per cent in Atlantic Canada and by 10.3 per cent in Ontario.

Rural starts were estimated at a seasonally adjusted annual rate of 23,500 units in January.

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