Seasonally adjusted annual rate estimates of housing start activity were also revised up for April and May. This resulted in a month-over-month gain of 3.7 per cent in April (205,900 units), a 5.1 per cent decline in May (195,300 units), and a decrease of 3.1 per cent in June.
“Housing starts decreased during June, largely due to the multiple starts segment in Ontario. The single starts segment was largely unchanged Canada-wide.” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “After a robust start to 2010, we expect the pace of housing start activity to moderate and total 182,000 units by year-end.”
The seasonally adjusted annual rate of urban starts decreased by 2.6 per cent to 167,000 units in June. Urban multiple starts decreased by 5.8 per cent to 89,200 units, while single urban starts edged higher by 1.4 per cent to 77,800 units.
June’s seasonally adjusted annual rate of urban starts decreased 19.8 per cent in Atlantic Canada and 17.4 per cent in Ontario. Urban starts increased 11.6 per cent in Quebec, 8.6 per cent in the Prairie Region, and 6.3 per cent in British Columbia.
Rural starts were estimated at a seasonally adjusted annual rate of 22,300 units in June.