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Related Links: National Archive 2002 Archive January 2002 February 2002 March 2002 April 2002 May 2002 June 2002 July 2002 August 2002 September 2002 October 2002 November 2002 December 2002    |
 
Housing Starts Jump 17.3 % in JanuaryOTTAWA, Ontario, February 8, 2002 — The seasonally adjusted annual rate* of housing starts in Canada rose 17.3 per cent in January to 204,300 units from 174,100 units in December, according to Canada Mortgage and Housing Corporation (CMHC). Urban singles were up 4.0 per cent to an annual rate of 89,100 units from 85,700 in December while urban multiple starts jumped 39.4 per cent to an annual rate of 95,200 units from 68,300. Estimated rural starts slipped 0.5 per cent to a seasonally adjusted annual rate of 20,000 units. "January's annual rate of housing starts posted the highest level since May 1990 due in part to unusually mild weather in central Canada," said Philippe Le Goff, senior economist at CMHC's Market Analysis Centre. "The building industry is responding to tight resale and rental markets in many metropolitan areas. Last month's rental starts were up favorably in Quebec, Ontario, Alberta, but, to a lesser extent, in British Columbia and Nova Scotia. Actual rental housing starts at 1,786 January were the highest since November 1993." Actual total housing starts reached 12,382 units in January. 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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