Canadian Mortgage Rates,
Calculators, News & Information
Calculators, News & Information
 |  |  |  |  |  |
Canadian Mortgage News
Related Links: National Archive 2004 Archive January 2004 February 2004 March 2004 April 2004 May 2004 June 2004 July 2004 August 2004 September 2004 October 2004 November 2004 December 2004    |
 
Housing Starts Remain High In MayOTTAWA, Ontario, June 8, 2004 — The seasonally adjusted annual rate1 of housing starts was 238,800 in May, compared with 241,600 in April, according to Canada Mortgage and Housing Corporation (CMHC). "Housing construction is off to a strong start this year," said Bob Dugan, Chief Economist at CMHC's Market Analysis Centre. "January to May had the most starts for any such period since 1987. The housing market continues to benefit from positive economic factors nationwide, particularly low mortgage rates, improving employment and strong consumer confidence." In all regions of Canada, except British Columbia, the seasonally adjusted annual rate of urban starts increased in May: 6.2 per cent in the Atlantic; 2.3 per cent in Quebec; 2.1 per cent in Ontario and; 1.5 per cent in the Prairies. In British Columbia, the seasonally adjusted annual rate of urban starts fell 16.5 per cent in May, but despite this decline, starts are up nearly 50 per cent on a year-to-date basis. Year to date actual urban starts were 10.4 per cent higher through May than for the same period last year. Single starts were up 5.4 per cent while multiple starts were up 15.9 per cent. Information on this release:Bob DuganCMHC (613) 748-4009 bdugan@cmhc-schl.gc.ca For regional starts information contact:Atlantic provinces:
Source: CMHC *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)
|  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
