Housing starts move down in February

    OTTAWA, March 8 /CNW Telbec/ - The seasonally adjusted annual rate(1) of
housing starts was 196,200 units in February, down from 248,500 units in
January, according to Canada Mortgage and Housing Corporation (CMHC).
    "Following the unusually strong surge in construction activity in
January, which was partly attributable to the unseasonably warm weather,
housing starts in February returned to levels more in line with expectations,"
said Bob Dugan, Chief Economist at CMHC's Market Analysis Centre. "Housing
starts are likely to increase in the coming months and are forecasted to reach
209,500 units in 2007."
    February's seasonally adjusted annual rate of urban starts was 163,200
units, down 24.3 per cent from January. Urban multiples fell 33.0 per cent to
82,800 units in February, while singles decreased 12.6 per cent to 80,400
    Urban starts in February dropped across all regions. Urban multiple
starts declined in all regions except in the Atlantic where they rose 15.6 per
cent. Urban single starts were down everywhere except in British Columbia
where they remained unchanged from January.
    Rural starts were estimated at a seasonally adjusted annual rate of
33,000 units in February.
    Actual starts in both rural and urban areas were down an estimated
5.2 per cent in the first two months of 2007 compared to the same period in
2006, while actual starts in urban areas only were down an estimated 6.7 per
cent. Actual single starts in urban areas were 20.3 per cent lower than they
were a year earlier, while actual urban multiple starts were up 6.2 per cent.

    Canada Mortgage and Housing Corporation (CMHC) has been Canada's national
housing agency for more than 60 years. CMHC is committed to helping Canadians
access a wide choice of quality, affordable homes, while making vibrant,
healthy communities and cities a reality across the country. For more
information, visit www.cmhc.ca or call 1-800-668-2642.

    (1)  All starts figures in this release, other than actual starts, are
    seasonally adjusted annual rates (SAAR) - that is, monthly figures
    adjusted to remove normal seasonal variation and multiplied by 12 to
    reflect annual levels.

    (Ce document existe également en français)

    Please click below to view the Housing Starts in Canada - All areas chart

                     Housing Starts, Actual and SAAR(*)
                                     Actual                    SAAR
                             February     February      January     February
                                 2006         2007         2007         2007
                                Final  Preliminary        Final  Preliminary
    Canada, all areas          13,846       10,890      248,500      196,200
      Canada, rural areas       1,396        1,454       33,000       33,000
      Canada, urban
        centres(xx)            12,450        9,436      215,500      163,200
        Canada, singles,
         urban centres          5,956        4,389       92,000       80,400
        Canada, multiples,
         urban centres          6,494        5,047      123,500       82,800

        Atlantic region,
         urban centres            299          278        9,400        8,500
        Quebec, urban
         centres                2,154        1,923       42,200       35,800
        Ontario, urban
         centres                3,920        2,515       76,700       51,500
        Prairie region,
         urban centres          3,313        2,646       52,700       39,300
        British Columbia,
         urban centres          2,764        2,074       34,500       28,100

    Source: CMHC
    (*)  Seasonally adjusted annual rates
    (xx) Urban centres with a population of 10,000 persons and over.
         Detailed data available upon request.

For further information:

For further information: Bob Dugan, CMHC, (613) 748-4009
bdugan@cmhc-schl.gc.ca; For regional starts information contact: Atlantic
provinces: Alex MacDonald, CMHC, (902) 426-8964, amacdona@cmhc-schl.gc.ca;
Quebec: Kevin Hughes, CMHC, (514) 283-4488, khughes@cmhc-schl.gc.ca; Ontario:
Ted Tsiakopoulos, CMHC, (416) 218-3407, ttsiakop@cmhc-schl.gc.ca; Prairie
provinces: Richard Corriveau, CMHC, (403) 515-3005, rcorrive@cmhc-schl.gc.ca;
British Columbia: Carol Frketich, CMHC;, (604) 737-4067,
cfrketic@cmhc-schl.gc.ca; This release is also available on the CMHC website:

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