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Housing starts pick up in May

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by News From &Copy; Canadian Press Enterprises Inc., 2013

Canada Mortgage and Housing Corp., says the pace of housing starts picked up in May, led by an increase in multiple-unit starts.

OTTAWA

Canada Mortgage and Housing Corp., says the pace of housing starts picked up in May, led by an increase in multiple-unit starts.

The agency estimated there were 18,301 actual starts last month which would equate to a seasonally adjusted annual rate of 200,178 starts.

That’s up from a seasonally adjusted annual rate of 175,922 in April. Urban starts on a annual basis increased by 14.6 per cent in May to 177,234 units, led by a 22.2 per cent rise in multiple urban starts. Single urban starts increased by 3.0 per cent to 62,888 units in May.

May’s seasonally adjusted annual rates of urban starts increased in Atlantic Canada and Ontario, were essentially unchanged in the Prairies and decreased in British Columbia and Quebec.

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