Canada Housing


Housing starts fall sharply in May

According to the government-owned Canada Mortgage and Housing Corporation (CMHC), seasonally adjusted annualized housing starts fell to 211,400 units in May, which was down 13.3% from a revised 243,800 units in April (previously reported: 244,900 units). The reading represents the steepest decline in housing starts since December 2010 and came in below market expectations, which had housing starts plunging to 215,000 units. According to the CMHC,


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Note: Monthly housing starts at seasonally adjusted annualized rate.
Source: Canada Mortgage and Housing Corporation (CMHC).

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