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.”
Author: Robert Hill, Economist