Home Builder Canada Readers survey
newsletter
NP_lineHome Builder Magazine New Products Online
NP_line
Computers, Educational
&Technology

NP_line
Electrical & Mechanical
NP_line
Exteriors
NP_line
Finishes & Surfaces
NP_line
Kitchens & Baths
NP_line
Landscape & Design
NP_line
Speciality Products
NP_line
Structural
NP_line
Tools & Equipment
NP_line
Windows & Doors
NP_line
New Products home
NP_line



External Links: Associations & Governments. Builders & Renovators . Manufacturers & Suppliers

Home . About Us . Subscribe . Advertise . Editorial Outline . Contact Us . Current Issue . Back Issues . Jon Eakes



© Copyright - Work-4 Projects Ltd.

Housing starts dip in January

February 19, 2019

Canada-wide housing starts dropped to an annual pace of 207,000 units in January but a mild month-over-month rise in the resale housing market may indicate a generally stronger year for the residential industry.
The decline in starts from December was less than forecast and above long-term norms, according to Canada Mortgage and Housing Corp. (CMHC).
“After recent declines, the national trend in housing starts held steady in January and remained above historical average,” said Bob Dugan, CMHC’s chief economist, in a release.“While single-detached starts continued to trend lower in January, this was offset by an uptick in the trend for multi-unit dwellings in urban centres.”
CMHC’s data showed the annual pace of urban starts slowed 2.1 per cent in January to 190,912 units as single-detached urban starts fell 10.4 per cent to 44,559 units. The annual pace of multiple-unit projects such as condominiums, apartments and townhouses increased 0.7 per cent to 146,353 units, while rural starts were estimated at a seasonally adjusted annual rate of 17,056 units.
In Toronto, housing starts saw little change, although increasing borrowing costs meant pre-construction sales of new homes remain low. CMHC said they expect this to result in even fewer units breaking ground this year.
A small increase in resales in January, up 3.6 per cent from December gives hope that the market is recovering from the slowest sales pace in six years during 2018.
Actual, not seasonally-adjusted, housing sales were down 4 per cent from a year earlier, according to CREA.

 

 

homeBUILDERcanada.com | Home BUILDER Magazine | Canada's #1 Information Source for Residential Home Builders and Professional Renovators

HB house ad sub
Home Builder Magazine Ask Jon Eakes
Home Builder current issue