Housing Starts In Canada See Slight Drop In February

In February, the trend measure of national housing starts was 198,880, down from 199,107 in January, fitting with the six-month moving average of the seasonally adjusted annual rate.

“The national housing starts trend held steady in February, despite some important regional variances,” said the Canada Mortgage and Housing Corporation’s Chief Economist, Bob Dugan. “Housing starts are trending at a 4-year low in the Prairies where low oil prices have weakened consumer confidence. At the same time, starts are trending at an 8-year high in British Columbia, as new and resale home inventories remain low.”

Single-detached urban starts were up by 6.1 per cent with 61,451 unit, and multiple urban starts were up 46 per cent to 138,774 units during the month of February.

The Prairies saw a decrease in the seasonally adjusted annual rate of starts during February, but the seasonally adjusted annual rate of starts increased in Atlantic Canada, Quebec, Ontario and British Columbia.

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