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- Canadian housing starts index was 215,459 units in June
Canadian housing starts index was 215,459 units in June
The trend in housing starts was 215,459 units in June 2017, compared to 214,570 units in May 2017, according to Canada Mortgage and Housing Corporation (CMHC). This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
"The trend in housing starts for Canada reached its highest level in almost five years", said Bob Dugan, CMHC's chief economist. "So far this year, all regions are on pace to surpass construction levels from 2016 except for British Columbia, where starts have declined year-to-date after reaching near-record levels last summer."
In June, housing starts trended higher in Québec as a result of the construction of a large condominium project. However, in the conventional rental housing segment, year-to-date results show a 22 per cent decrease in housing starts compared to the same period in 2016. This decrease can be explained, in part, by the period of strong activity observed in this segment in 2015 and 2016 and the rise in the vacancy rate.
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