Housing starts remain high in June despite decrease

    OTTAWA, July 9 /CNW Telbec/ - The seasonally adjusted annual rate(1) of
housing starts was 217,800 units in June, down from 227,700 units in May,
according to Canada Mortgage and Housing Corporation (CMHC).
    "Despite the decrease in June, total housing starts remain at high
levels." said Bob Dugan, Chief Economist at CMHC's Market Analysis Centre.
"This is mostly due to the multiple segment which has been continuously above
the 100,000 unit threshold since the beginning of the year."
    The seasonally adjusted annual rate of urban starts moved down by 5.0 per
cent in June compared to May. Both urban multiples and singles decreased, with
a decline of 3.0 per cent for multiples to 114,700 units, and a 7.8 per cent
drop for singles to 74,600 units.
    The seasonally adjusted annual rate of urban starts went down in all
regions of Canada, except Ontario, where housing starts increased by 10.8 per
cent to 77,900 in June. Urban starts declined to 8,500 units in Atlantic
Canada, 40,300 units in Quebec, 31,200 units in the Prairies, and 31,400 units
in British Columbia. Both single and multiple urban starts decreased in all
regions in June, with the exception of multiple starts in Ontario which
increased by 30 per cent.
    Rural starts were estimated at a seasonally adjusted annual rate of
28,500 units in June(2).
    For the first half of 2008, actual starts in rural and urban areas
combined were up an estimated 1.5 per cent compared to the same period last
year. Year-to-date actual starts in urban areas have increased by an estimated
6.1 per cent over the same period in 2007. Actual urban single starts for the
first six months of this year were 13.1 per cent lower than they were a year
earlier, while multiple starts were up by 23.1 per cent over the same period.

    As Canada's national housing agency, CMHC draws on over 60 years of
experience to help Canadians access a variety of quality, environmentally
sustainable, and affordable homes - homes that will continue to create vibrant
and healthy communities and cities across the country.

    For more information, visit www.cmhc.ca or call 1-800-668-2642.

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

    (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.
    (2) CMHC estimates the level of rural starts for each of the three months
    of the quarter, at the beginning of each quarter. During the last
    month of the quarter, CMHC conducts the survey in rural areas and
    revises the estimate.

    (Ce document existe également en français)

                     Housing Starts, Actual and SAAR(*)
                                        Actual                   SAAR
                                  June          June        May        June
                                  2007          2008       2008        2008
                                 Final       Prelimi-     Final     Prelimi-
                                                nary                   nary
    Canada, all areas           21,962        21,302    227,700     217,800
     Canada, rural areas         3,469         3,053     28,500      28,500
     Canada, urban centres(xx)  18,494        18,320    199,200     189,300
      Canada, singles,
       urban centres             9,742         7,878     80,900      74,600
      Canada, multiples,
       urban centres             8,752        10,442    118,300     114,700

      Atlantic region,
       urban centres             1,085         1,092      9,700       8,500
      Quebec, urban centres      4,172         3,706     45,600      40,300
      Ontario, urban centres     6,084         8,233     70,300      77,900
      Prairie region,
       urban centres             4,205         2,659     38,900      31,200
      British Columbia,
       urban centres             2,948         2,630     34,700      31,400
    Source: CMHC
    (*)Seasonally adjusted annual rates
    (xx) Urban centres with a population of 10,000 and over.
         Detailed data available upon request.

For further information:

For further information: on this release: Stéphanie Rubec, CMHC Media
Relations, (613)748-2300-3064, Cell: (613)296-1670, srubec@cmhc-schl.gc.ca;
This release is also available on the CMHC Web site:
http://www.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:
Jason Mercer, CMHC, (416) 218-3410, jmercer@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,

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