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CMHC says annual pace of housing starts rose 3.2 per cent in May compared with April

The Canadian Press
CMHC says annual pace of housing starts rose 3.2 per cent in May compared with April

OTTAWA—Canada Mortgage and Housing Corp. says the annual pace of housing starts in May rose 3.2 per cent compared with April, as starts of apartments, condos and other types of multiple-unit housing projects rose higher.

The housing agency says the seasonally adjusted annual rate of housing starts climbed to 275,916 units in May, up from 267,449 units in April,

The annual pace of urban starts rose 1.8 per cent in May to 254,647 as a rise in multiple-unit starts offset a drop in starts of single-detached homes.

The rate of multiple-unit starts climbed 10.9 per cent to 190,530 in May, while the annual rate of single-detached urban starts fell 18 per cent to 64,117 units.

Rural starts were estimated at a seasonally adjusted annual rate of 21,269.

The six-month moving average of the monthly seasonally adjusted annual rate of housing starts was 280,779 in May, up from 278,462 in April.

© 2021 The Canadian Press

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