Housing Starts Increase in June

OTTAWA, July 9, 2009 — The seasonally adjusted annual rate1 of housing starts increased to 140,700 units in June from 130,300 units in May, according to Canada Mortgage and Housing Corporation (CMHC).

“The increase in housing starts in June is broadly based, encompassing both the singles and multiples segments,” said Bob Dugan, Chief Economist at CMHC. “In addition, Western Canada experienced an increase this month.”

Housing starts are expected to improve throughout 2009 and over the next several years to gradually become more closely aligned to demographic demand, which is currently estimated at about 175,000 units per year.

The seasonally adjusted annual rate of urban starts increased 9.5 per cent to 120,100 units in June. Urban multiple starts increased 11.3 per cent to 67,000 units, while urban single starts also moved up by 7.3 per cent to 53,100 units in June.

June’s seasonally adjusted annual rate of urban starts increased 59.4 per cent in the Prairies, 25 per cent in British Columbia, and 3.1 per cent in Ontario. Urban starts declined 6.3 per cent in Quebec, and 3.9 per cent in Atlantic Canada.

Rural starts were estimated at a seasonally adjusted annual rate of 20,600 units in June2.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable, and affordable homes — homes that will continue to create vibrant and healthy communities and cities across the country.