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January housing starts jump


February 8, 2010
By Rock To Road

NEWS HIGHLIGHT

January housing starts jump

The Canada Mortgage and Housing Corporation (CMHC)
recently reported that the seasonally adjusted annual rate of housing
starts reached 186,300 units in January 2010, compared to an annual
rate of 176,100 units in December 2009.

Feb. 8, 2010 – The Canada Mortgage and Housing Corporation (CMHC) reported today that the seasonally adjusted annual rate of housing starts reached 186,300 units in January 2010, compared to an annual rate of 176,100 units in December 2009. According to final figures, actual housing starts for 2009 totaled 149,081 units, with activity improving as the year progressed.

“Housing starts improved in both the singles and multiples segments in January,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “These increases are similar to the ones that occurred in December.”

The seasonally adjusted annual rate of urban starts increased by 4.4 per cent to 165,200 units in January. Urban multiple starts increased by 5.7 per cent to 76,300 units while single urban starts increased by 3.3 per cent to 88,900 units.

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January’s seasonally adjusted annual rate of urban starts increased by 19.8 per cent in British Columbia, by 7.3 per cent in Quebec, by 2.3 per cent in Atlantic Canada, and by 1.5 per cent in the Ontario. In the Prairie region, the seasonally adjusted annual rate of urban starts decreased by 4.8 per cent.

Rural starts were estimated at a seasonally adjusted annual rate of 21,100 units in January.


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