Privacy  
CanEquity Mortgage Canada
Canadian mortgage rates,
mortgage calculator & news.

Canadian Mortgage News

March 2007 National News Archive

 

Related Links:
National Archive
2007 Archive
January 2007
February 2007
March 2007
April 2007
May 2007
June 2007
July 2007
August 2007
September 2007
October 2007
November 2007
December 2007


CanEquity Mortgage News RSS 2.0 Feed

CanEquity Mortgage News Atom Feed

About RSS and Atom Feeds

Portable Document Format Printable Version Page d'accueil franšais

Housing Starts Move Down in February

OTTAWA, Ontario, March 08, 2007 — The seasonally adjusted annual rate1 of housing starts was 196,200 units in February, down from 248,500 units in January, according to Canada Mortgage and Housing Corporation (CMHC).

“Following the unusually strong surge in construction activity in January, which was partly attributable to the unseasonably warm weather, housing starts in February returned to levels more in line with expectations,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “Housing starts are likely to increase in the coming months and are forecasted to reach 209,500 units in 2007.”

February’s seasonally adjusted annual rate of urban starts was 163,200 units, down 24.3 per cent from January. Urban multiples fell 33.0 per cent to 82,800 units in February, while singles decreased 12.6 per cent to 80,400 units.

Urban starts in February dropped across all regions. Urban multiple starts declined in all regions except in the Atlantic where they rose 15.6 per cent. Urban single starts were down everywhere except in British Columbia where they remained unchanged from January.

Rural starts were estimated at a seasonally adjusted annual rate of 33,000 units in February.

Actual starts in both rural and urban areas were down an estimated 5.2 per cent in the first two months of 2007 compared to the same period in 2006, while actual starts in urban areas only were down an estimated 6.7 per cent. Actual single starts in urban areas were 20.3 per cent lower than they were a year earlier, while actual urban multiple starts were up 6.2 per cent.

Canada Mortgage and Housing Corporation (CMHC) has been Canada’s national housing agency for more than 60 years. CMHC is committed to helping Canadians access a wide choice of quality, affordable homes, while making vibrant, healthy communities and cities a reality across the country. For more information call 1-800-668-2642.

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.

Information on this release:

Bob Dugan
CMHC
613-748-4009
bdugan@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
Richard Corriveau
CMHC
403-515-3005
rcorrive@cmhc-schl.gc.ca

British Columbia
Carol Frketich
CMHC
604-737-4067
cfrketic@cmhc-schl.gc.ca

Housing Starts in Canada - All Areas

Housing Starts, Actual and SAAR*

Actual
SAAR
February
2006
February
2007
January
2007
February
2007
Final
Preliminary
Final
Preliminary
Canada, all areas
13,846
10,890
248,500
196,200
Canada, rural areas
1,396
1,454
33,000
33,000
Canada, urban centres**
12,450
9,436
215,500
163,200
Canada, singles, urban centres
5,956
4,389
92,000
80,400
Canada, multiples, urban centres
6,494
5,047
123,500
82,800
Atlantic region, urban centres
299
278
9,400
8,500
Quebec, urban centres
2,154
1,923
42,200
35,800
Ontario, urban centres
3,920
2,515
76,700
51,500
Prairie region, urban centres
3,313
2,646
52,700
39,300
British Columbia, urban centres
2,764
2,074
34,500
28,100

Source: CMHC
*Seasonally adjusted annual rates
** Urban centres with a population of 10,000 persons and over.
Detailed data available upon request.

News source: Canada Mortgage and Housing Corporation (CMHC)

 

Top of page