Canada Housing


Canada: Housing starts climb higher in June

July 8, 2015

Seasonally-adjusted annualized housing starts registered 202,800 units in June, according to the government-owned Canada Mortgage and Housing Corporation (CMHC). The figure marked a 3.0% increase over May’s 197,000 units (previously reported: 201,700 units) and far exceeded market expectations of 190,000 units.

The six-month moving average rose by 2.3% over the previous month, from May’s 179,900 to 184,000 in June. The CMHC commented that, “the trend in housing starts increased this month as multiple starts trended upward, offsetting a downward trend in single-detached home starts.” The CMHC also stated that it expects seasonally adjusted multiple starts to moderate over the coming months.

According to its Q2 Housing Market Outlook, the CMHC estimates that housing starts will record 181,618 units in 2015 and 181,800 units in 2016. FocusEconomics Consensus Forecast participants expect 180,765 housing starts in 2015. For 2016, the panel sees housing starts moderating to 180,674 units.

Author:, Economist

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Canada Housing Chart

Canada Housing Starts June 2015

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

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