Housing Starts in January

February 8, 2010

There was a 5.8 percent increase in Canadian housing starts in January 2010. That certainly is more than it was predicted, the Canada Mortgage and Housing Corporation announced today. Growth was reported in both single and multiple family homes.

Housing starts went up to a seasonally adjusted rate of 186,300 units in January. A month earlier, they were at the level of 176,100 units. Urban starts increased by 4.4 percent to 165,200 units this past month. Starts of multiple family homes rose to 76,300, which is by 5.7 percent and single starts went up by 3.3 percent to 88,900 annual rate.

In Ontario, the seasonally adjusted annual rate of urban starts rose by 1.5 percent in January. There were much bigger gains for example in British Columbia: 19.8 percent, and Quebec: 7.3 percent. However, there was a decline, of 4.8 percent in the Prairies. Not that the rise in Ontario is very significant, it could be much better, but it’s not a bad result. And the pace of increases all over suggests that our economy is nicely healing.

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