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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    |
 
Rate of Housing Starts Remains High in NovemberOTTAWA, Ontario, December 9, 2002 — The seasonally adjusted annual rate1 of housing starts in Canada declined 3% in November to 213,500 units from a revised2 220,100 units in October, according to Canada Mortgage and Housing Corporation (CMHC). Urban multiple starts rose 1.4% to an annual rate of 85,000 units in November from 83,800 in October, while the rate for urban singles declined 6.9% to 104,600 units from 112,400 units. Rural starts in November were estimated at an annual rate of 23,900 units. "Despite the slight decline from October, November's annual rate of housing starts remains high, staying above 210,000 for the third time in the past four months", said Michel Laurence, Chief Economist at CMHC's Market Analysis Centre. "The percentage increase in actual urban housing starts this year is on a pace to be the second highest since 1958." Estimated actual urban housing starts for January to November this year are 27.6% higher than for the same period last year (166,168 units compared with 130,276 units). The single-detached market increased 33% while multiples increased 20.9%. 1. All starts figures in this release, other than actual starts, are seasonally adjusted annual rates (SAAR) that are monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels.2. Figures for the most recent month are preliminary and subject to revisions due to corrections or updates from quarterly enumeration or sampling results. Special note: The methodology is unchanged for estimating housing starts in rural areas (areas other than urban centres with a population of 10,000 persons and over.) In these areas, a sample survey is used on a quarterly basis. As was the case in the past, statistical models continue to be used to estimate national housing starts in all areas on a monthly basis. Information on this release:Michel Laurence Atlantic provinces: Alex MacDonald, CMHC, (902) 426-8964, amacdona@cmhc-schl.gc.ca
* 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)
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