The seasonally adjusted annual rate of housing starts has reached 186,300 units in January 2010. This is an increase from the annual rate seen in December 2009, where it was 176,100 according to the Canada Mortgage and Housing Corporation (CMHC).
According to final figures, the actual housing starts for 2009 totalled 148,081 units, with activity improving as the year progressed.
Chief economist at CMHC’s Market Analysis Centre noted that housing starts have improved in both the singles and multiples segments in January; and that the increases seen are similar to what occurred in December.
The seasonally adjusted annual rate of urban starts increased by 4.4% to 165,200 units in January. Urban multiple starts increased by 5.7% to 76,300 units while single urban starts increased by 3.3% to 88,900 units.
January’s seasonally adjusted annual rate of urban starts increased by 19.8% in British Columbia; 7.8% in Quebec; 2.3% in Atlantic Canada; and 1.5% in Ontario.
In the Prairie region we have the seasonally adjusted annual rate of urban starts decrease by 4.8%.
With only one decrease in Canada, we can see that Canada’s housing starts are progressing well at the moment. If the trend follows what happened last year, we should begin to see more housing starts as the year progresses.
Jeff Markewich
Broker of Record with InfoMarket Group GMAC Real Estate
www.imgrealestate.ca
