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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 Remain Above the 200,000 Mark in JuneOTTAWA, Ontario, July 8, 2002 — The seasonally adjusted annual rate* of housing starts in Canada slipped 0.6 per cent in June to 202,100 units from 203,300 units in May, according to Canada Mortgage and Housing Corporation (CMHC). Urban singles declined 4.4 per cent to an annual rate of 102,500 units from 107,200 in May while urban multiple starts rose 5.0 per cent to an annual rate of 73,700 units from 70,200. Estimated rural starts remained at a seasonally adjusted annual rate of 25,900 units. "New residential construction has shown tremendous momentum in the first half of 2002. It reflects a combination of factors which have prevailed since January: low mortgage rates, strong job creation, high consumer confidence, and low inventories of unoccupied units," said Lucia Su, Director of CMHC's Market Analysis Centre. "While all provinces have shown higher housing starts this year, relative to last year, Quebec, Ontario and Alberta have led the way." Actual urban housing starts for January to June this year are 25.5 per cent higher than the same period last year (83,860 units compared with 66,802 units). The single-detached market increased 36.7 per cent while multiples increased 12.7 per cent. *Most starts figures in this release are seasonally adjusted annual rates (SAAR) that are monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels. Information on this release:Lucia Su For regional starts information contact: Atlantic provinces: Ralph Freeze Quebec: Kevin Hughes Ontario: Alex Medow Prairie provinces: Richard Corriveau British Columbia: Cameron Muir
Source: CMHC News source: Canada Mortgage and Housing Corporation (CMHC)
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