cdr108
Senior Member
http://www.theglobeandmail.com/servlet/story/RTGAM.20090508.whousingstarts0508/BNStory/Business/home
The Canadian Press
May 8, 2009 at 9:12 AM EDT
OTTAWA — The Canada Mortgage and Housing Corp. says housing starts fell to an annual rate of 117,400 units in April from 146,500 units in March.
Agency economist Bob Dugan attributes the decrease partly to a decline in multiple starts, especially Ontario's condominium segment.
The agency says some improvement is expected but new home construction is unlikely to match the 200,000-a-year pace set over the past seven years.
The CMHC says housing starts will be more closely aligned to demographic demand, currently estimated at about 175,000 units a year.
The annual rate of urban starts dropped 24 per cent to 96,800 units in April, with multiple starts falling 32.7 per cent to 54,700 units and urban singles slipping 8.7 per cent to 42,100.
April's seasonally adjusted annual rate of urban starts increased one per cent in British Columbia and fell 43.7 per cent in Ontario, 16 per cent in Atlantic Canada, 7.1 per cent in Quebec, and three per cent in the Prairies.
Rural starts were estimated at an annual rate of 20,600 units in April.
The Canadian Press
May 8, 2009 at 9:12 AM EDT
OTTAWA — The Canada Mortgage and Housing Corp. says housing starts fell to an annual rate of 117,400 units in April from 146,500 units in March.
Agency economist Bob Dugan attributes the decrease partly to a decline in multiple starts, especially Ontario's condominium segment.
The agency says some improvement is expected but new home construction is unlikely to match the 200,000-a-year pace set over the past seven years.
The CMHC says housing starts will be more closely aligned to demographic demand, currently estimated at about 175,000 units a year.
The annual rate of urban starts dropped 24 per cent to 96,800 units in April, with multiple starts falling 32.7 per cent to 54,700 units and urban singles slipping 8.7 per cent to 42,100.
April's seasonally adjusted annual rate of urban starts increased one per cent in British Columbia and fell 43.7 per cent in Ontario, 16 per cent in Atlantic Canada, 7.1 per cent in Quebec, and three per cent in the Prairies.
Rural starts were estimated at an annual rate of 20,600 units in April.