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Related Links: National Archive 2001 Archive January 2001 February 2001 March 2001 April 2001 May 2001 June 2001 July 2001 August 2001 September 2001 October 2001 November 2001 December 2001    |
 
Housing Starts Declined in SeptemberOTTAWA, Ontario, October 9, 2001 — The seasonally adjusted annual rate* of housing starts in Canada decreased by 7.6 per cent in September to 156,600 units compared with 169,500 units in August, according to Canada Mortgage and Housing Corporation (CMHC). Urban single starts went down by 1.1 per cent to an annual rate of 78,700 from 79,600 units in August. Urban multiple starts also declined by 17.8 per cent to an annual rate of 55,400 units compared with 67,400. The estimate for starts in rural areas is unchanged at an annual rate of 22,500 units. "The September decline is not related to the tragic events in the US. Starts in September reflect commitments and back orders made prior to September 11. The drop reflects mainly Ontario's return to a more sustainable pace in the multiple starts segment after a strong performance in August."said Philippe Le Goff, senior economist at CMHC's Market Analysis Centre. Despite the decline in September, the actual number of housing starts since January is 7% higher than the same period in 2000, 104,132 units compared to 97,088 units. The single detached market has increased 2%, but the main source of strength this year is the multiple market, up 15%. CMHC is Canada's national housing agency. We help Canadians purchase their own homes, help create affordable housing, research housing issues and share our knowledge with all Canadians and promote Canada's world-leading housing industry in other countries. Our Market Analysis Centre (MAC) is the leading unbiased, comprehensive source for national, regional and local housing market information. Contact the CMHC business office nearest you to find out more about MAC and other CMHC knowledge products, or visit our Web site. * Most starts figures in this release are seasonally adjusted annual rates (SAAR), that is, actual monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect an annual pace. Information: Philippe Le Goff
News source: Canada Mortgage and Housing Corporation (CMHC)
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