Canadian Housing This Year

April 6, 2010

Toronto Skyline by Trotskyite

CMHC has released another report! This one is very complex and deals with the housing situation in Canada especially in the last quarter of 2009 and first two months of 2010. Overall, the results are very positive – quite a few increases were reported.

In February, the seasonally adjusted annual rate of housing starts rose by 6 percent from January to 196,600 units. As a matter of fact, the pace of housing starts was the highest since October 2008. urban and rural start did well. The seasonally adjusted annual rate of urban starts grew by 8.9 percent to 179,000 units in February. Urban single starts went up by 0.5 percent to 89,200 units and urban multiple starts increased by 18.9 percent to 89,800 units. The level of rural starts was 17,600 units.

The New Housing Price Index rose too - by 0.1 percent from January 2009 and the seasonally adjusted rate of MLS new listings rose in February - by 2.4 percent to 886,188 units. But the seasonally adjusted annual rate of MLS sales declined by 1.5 percent to 513,588 units in February.

Other than than, the report also mentions the unemployment situation, for example. And you should read it to find out more – it is almost impossible to briefly summarize all those numbers. It certainly is very interesting, but if you are following the economic situation or regularly checking my articles, you should be familiar with the majority of published info.