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Canadian Mortgage Broker News - Housing starts rate down for September: CMHC

Canadian Mortgage Broker News - Housing starts rate down for September: CMHC

Housing starts rate down for September: CMHC

| Tuesday, 12 October 2010


The seasonally adjusted annual rate of housing starts was 186,400 units in September, according to Canada Mortgage and Housing Corporation (CMHC). This is down from 189,300 units in August.

“Housing starts moved lower in September due to a decrease in urban single starts in Atlantic Canada and Ontario,” said Bob Dugan, chief economist at CMHC’s Market Analysis Centre. “Multiple starts were unchanged.”
The annual rate of urban starts decreased by 3.3 per cent to 163,200 units in September. In Atlantic Canada, urban starts decreased by 23.7 per cent and by 10.9 per cent in Ontario.
Meanwhile, urban starts increased by 6.4 per cent in British Columbia, by 3.9 per cent in Quebec, and by 0.6 per cent in the Prairie region.