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

Canadian Mortgage News

February 2009 National News Archive

 

Related Links:
National Archive
2009 Archive
January 2009
February 2009
March 2009
April 2009
May 2009
June 2009
July 2009
August 2009
September 2009
October 2009
November 2009
December 2009


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

January’s Housing Starts Decline

OTTAWA, Ontario, February 09, 2009 — The seasonally adjusted annual rate1 of housing starts declined to 153,500 units in January from 172,200 units in December of 2008, according to Canada Mortgage and Housing Corporation (CMHC).

“To a certain extent, the decline in housing starts coincides with recent developments in the existing home market. Reduced sales and increased listings in the existing home market have led to reduced spillover demand in the new home market,” said Bob Dugan, Chief Economist.

The seasonally adjusted annual rate of urban starts decreased 15.6 per cent to 126,700 units in January. Urban multiple starts decreased 12.2 per cent to 76,700 units, while urban single starts fell 20.2 per cent to 50,000 units in January.

January’s seasonally adjusted annual rate of urban starts moderated in all of Canada’s five regions. Urban starts declined 8.6 per cent in Atlantic Canada, 1.4 per cent in Quebec, 14.6 per cent in Ontario, 30.3 per cent in the Prairies, and 29.1 per cent in British Columbia.

Rural starts were estimated at a seasonally adjusted annual rate of 26,800 units in January2.

Actual starts in rural and urban areas combined decreased by an estimated 35.8 per cent in January this year compared to relatively high levels in January last year. Actual starts in urban areas have decreased by an estimated 40.4 per cent compared to the same month in 2008. Actual urban single starts for 2009 are 44.2 per cent lower than they were a year earlier while urban multiple starts are down 38.1 per cent.

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.

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) 1 that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels.

2 CMHC estimates the level of rural starts for each of the three months of the quarter, at the beginning of each quarter. During the last month of the quarter, CMHC conducts the survey in rural areas and revises the estimate.

Information on this release:
Julie Girard
CMHC Media Relations
Tel.: 613-748-4684
Cell.: 613-295-6330
jagirard@cmhc-schl.gc.ca
Stéphanie Bento
CMHC Media Relations
Tel.: 613-748-2811
Cell.: 613-808-9670
sbento@cmhc-schl.gc.ca
For regional starts information contact:

Atlantic provinces:
Alex MacDonald
CMHC
902-426-8964
amacdona@cmhc-schl.gc.ca

Ontario:
Ted Tsiakopoulos
CMHC
416-218-3407
ttsiakop@cmhc-schl.gc.ca

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

Quebec:
Kevin Hughes
CMHC
514-283-4488
khughes@cmhc-schl.gc.ca

Prairie provinces:
Richard Corriveau
CMHC
403-515-3005
rcorrive@cmhc-schl.gc.ca

Housing Starts in Canada — All Areas

Housing Starts, Actual and SAAR*
Actual SAAR
January
2008
January
2009
December
2008
January
2009
Final Preliminary Final Preliminary
Canada, all areas 12,918 8,287 172,200 153,500
Canada, rural areas 765 1,043 22,100 26,800
Canada, urban centres** 12,153 7,244 150,100 126,700
Canada, singles, urban centres 4,505 2,512 62,700 50,000
Canada, multiples, urban centres 7,648 4,732 87,400 76,700
Atlantic region, urban centres 385 348 8,100 7,400
Quebec, urban centres 2,330 2,021 36,700 36,200
Ontario, urban centres 4,254 2,873 60,300 51,500
Prairie region, urban centres 2,881 1,077 25,100 17,500
British Columbia, urban centres 2,303 925 19,900 14,100

News source: Canada Mortgage and Housing Corporation (CMHC)

 

Top of page