Canada Housing


Canada: Housing starts decrease in April

May 8, 2015

Seasonally-adjusted annualized housing starts registered 181,800 units in April, according to the government-owned Canada Mortgage and Housing Corporation (CMHC). The figure marked a 4.1% decrease over March’s 189,500 units (previously reported: 189,700 units) and just undershot market expectations of 182,000 units.

The six-month moving average rose by 0.1% over the previous month, from March’s 179,100 (previously reported: 179,000) to 179,300 in April. The CMHC commented that, “elevated levels of multi-unit starts during mid-2014 caused the trend to peak in September. Starts activity since then has trended down to current stable levels as builders have adjusted activity to manage inventories.”

According to its Q1 Housing Market Outlook, the CMHC estimates that housing starts will record 187,400 units in 2015 and 185,100 units in 2016. FocusEconomics Consensus Forecast participants expect 181,234 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 April 2015

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

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