PEI Housing Starts in May

    CHARLOTTETOWN, June 8 /CNW/ - Total urban housing starts in PEI in the
month of May were unchanged from May 2008. According to figures released today
by Canada Mortgage and Housing Corporation (CMHC), preliminary data indicates
that a total of 71 starts were reported in May of 2009, the same level as last
    "Multiple units in the Charlottetown area contributed to the strong level
of starts recorded in May," said Jason Beaton, Market Analyst with CMHC in
Prince Edward Island. Total housing starts in Charlottetown reached 68 units
in May, up from 65 units started last year. In Summerside, total housing
starts decreased to three units this month, down from six units during the
same period a year ago. On a year-to-date basis, 117 urban housing starts have
been recorded in PEI compared to 154 starts during the same period last year.
"After a slow start, residential construction has picked up during the past
two months, but activity is expected to remain below 2008 levels," continued
    In urban centres across Canada, total housing starts in May declined by
46 per cent, down to 10,368 compared to last year's total of 19,222.
Single-detached starts decreased 42 per cent to 4,939 units, while multiple
unit starts were down 49 per cent from 10,654 units last year to 5,429 units
this year. In the Atlantic region, 760 new units were started in May 2009
compared to 1,094 units during the same period in 2008.

    As Canada's national housing agency, CMHC draws on more than 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.

    1. Figures for the most recent month are preliminary and subject to
       revisions due to corrections or updates from quarterly enumeration or
       sampling results.

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

    (Ce document existe également en français)

                         PRINCE EDWARD ISLAND SUMMARY
                          2009    2008              YEAR-TO-DATE
                         --------------  % Change  --------------  % Change
                           MAY     MAY              2009    2008
    Single                  35      40      -12.5%    66      87      -24.1%
    Multiple                33      25       32.0%    42      44       -4.5%
    TOTAL                   68      65        4.6%   108     131      -17.6%
    Single                   3       4      -25.0%     9      15      -40.0%
    Multiple                 0       2        (xx)     0       8        (xx)
    TOTAL                    3       6      -50.0%     9      23      -60.9%
    Single                  38      44      -13.6%    75     102      -26.5%
    Multiple                33      27       22.2%    42      52      -19.2%
    TOTAL                   71      71        0.0%   117     154      -24.0%
    (xx) Indicates changes in excess of 100% which are not reported due to
         volatility resulting from small absolute numbers.

For further information:

For further information: Jason Beaton, Market Analyst, Canada Mortgage
and Housing Corporation, (506) 851-6047,

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