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Housing Starts Down in March

OTTAWA, Ontario, April 9, 2001 — The seasonally adjusted annual rate* of housing starts in Canada fell 1.5 per cent in March to 153,800 units compared with 156,100 in February, according to Canada Mortgage and Housing Corporation (CMHC).

The annual urban single starts rate fell 5.5 per cent to 78,600 in March from 83,200 units the previous month. Urban multiple starts were up 4.3 per cent to an annual rate of 56,100 units in March compared with 53,800 in February, due to more starts in Ontario, Prince Edward Island, Alberta, and Saskatchewan.

"Construction activity rebounded in March in Ontario and Alberta, but dropped in the Atlantic due to severe weather", said John-John D'Argensio, an economist at CMHC's Market Analysis Centre. "Low mortgage rates and low inventories of new and existing units on the market will help offset adverse impacts of a slowing economy on housing starts this year".

* All starts figures in this release are seasonally adjusted annual rates (SAAR), that is, raw monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect an annual pace. Other CMHC local and provincial releases may present analysis using raw figures.

For further information please contact:
John-John D'Argensio
CMHC
(613) 748-2300 ext: 3500
jdargens@cmhc-schl.gc.ca

HOUSING STARTS
ACTUAL AND SEASONALLY ADJUSTED ANNUAL DATA



FEBRUARY 2001
FINAL
MARCH 2001
PRELIMINARY
PROVINCE ACTUAL SAAR ACTUAL SAAR
NEWFOUNDLAND 13 800 17 400
PRINCE EDWARD ISLAND 3 200 11 400
NOVA SCOTIA 155 3,300 59 1,200
NEW BRUNSWICK 64 2,700 39 1,800
QUEBEC 1,100 26,600 1,494 21,700
ONTARIO 3,712 68,000 4,568 73,100
MANITOBA 77 1,700 92 1,600
SASKATCHEWAN 55 1,300 98 1,600
ALBERTA 1,193 18,700 1,318 20,700
BRITISH COLUMBIA 949 13,700 795 12,200
TOTAL (+10,000 pop.) 7,321 137,000 8,491 134,700
OTHER AREA ESTIMATES
(Less than 10,000 pop.)
529 19,100 689 19,100
CANADA 7,850 156,100 9,180 153,800

Canadian housing starts for March 2001

News source: Canada Mortgage and Housing Corporation (CMHC)

 

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