SmartHomeOwners

OTTAWA, August 10, 2010 – The seasonally adjusted annual rate¹ of housing starts was 189,200 units in July, according to Canada Mortgage and Housing Corporation (CMHC). The seasonally adjusted annual rate estimate of housing starts activity was revised up in June from 189,300 units to 192,300  units². This results in a month-over-month decrease of 1.6 per cent in July.

“Housing starts moved lower in July, largely due to a decrease in urban single starts and a reduction in rural starts,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “Multiple starts partially offset this moderation.”

The seasonally adjusted annual rate of urban starts increased by 1.9 per cent to 169,300 units in July. Urban multiple starts increased by 13.4 per cent to 101,400 units, while single urban starts moved lower by 11.3 per cent to 67,900 units.

July’s seasonally adjusted annual rate of urban starts decreased 14.8 per cent in British Columbia, 2.6 per cent in Ontario, and 0.4 per cent in Quebec. Urban starts increased 37.7 per cent in the Atlantic Region and 14.4 per cent in the Prairie Region.

Rural starts³ 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 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.