According to the government-owned Canada Mortgage and Housing Corporation (CMHC), seasonally adjusted annualized housing starts rose to 200,200 units in May, which was up 13.8% from a revised 175,900 units in April (previously reported: 174,900 units) and came in above market expectations of 179,100 units. The 6-month moving average, however, fell for the eighth straight month and inched down 0.1% over the previous month, from 183,000 units in April to 182,800 units in May. According to the CMHC, "the trend in total housing starts was essentially unchanged in May as gains in the multiple starts segment partly offset the moderation in activity that was observed in previous months". According to its Q1 Housing Market Outlook, the CMHC estimates that housing starts will reach 190,300 units in 2013 and 194,100 units in 2014. FocusEconomics Consensus Forecast participants are less optimistic and expect 175,000 housing starts in 2013. For 2014, the panel anticipates housing starts at 171,000.
Housing starts rebound in May
June 10, 2013
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Canada Housing Chart
Note: Monthly housing starts at seasonally adjusted annualized rate.
Source: Canada Mortgage and Housing Corporation (CMHC).
Canada Economic News
October 11, 2016
The Teranet-National Bank National Composite House Price index rose 0.7% in September from the previous month, which followed the 1.5% increase in August.
October 8, 2016
Seasonally-adjusted annualized housing starts registered 220,600 units in September, according to the government-owned Canada Mortgage and Housing Corporation (CMHC).
October 7, 2016
The Ivey Purchasing Managers’ Index (PMI), sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, increased a seasonally-adjusted 6.1 points in September, rising from 52.3 in August to 58.4.
September 30, 2016
In July, GDP grew a strong 0.5% over the previous month in seasonally-adjusted terms.
September 23, 2016
In August, seasonally-adjusted consumer prices recorded a 0.1% decrease over the previous month, which was down from the flat figure recorded in July and marked the lowest reading in six months.