The Canada Mortgage and Housing Corporation has released its latest data on home starts across the country, finding that the only slight decline from 182,971 units in April to 182,756 in May remains on average for the past six months.
“The trend in total housing starts was essentially unchanged in May as gains in the multiple starts segment partially offset the moderation in activity that was observed in previous months, especially in Atlantic Canada and Ontario,” said Mathieu Laberge, the deputy chief economist at the Canada Mortgage and Housing Corporation. “As a result, the trend in housing activity remains close to its historical average and is in-line with estimates of household formation.”
The housing starts information provided by the Canada Mortgage and Housing Corporation provides a more complete picture of the housing market in conjunction with other information from different local markets across the country.
Urban starts increased in Ontario and the Atlantic provinces, while they also decreased in Quebec and British Columbia.
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