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Housing Starts Increase in August

September 28th, 2009 Leave a comment Go to comments

According to the latest article from CMHC, housing starts have picked up the pace and are re-growing.

The seasonally adjusted annual rate of housing starts increased to 150,400 units in August from 134,200 units in July, according to Canada Mortgage and Housing Corporation (CMHC).

“Housing starts are trending higher, reflecting improvements in both the single and multiple segments,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “The improvement in housing starts is consistent with our expectation of a stronger second half for 2009.”

The seasonally adjusted annual rate of urban starts increased by 14.0 percent to in August. Urban multiple starts increased by 23.8 percent, while urban single starts moved up 2.5 percent units in August.

August’s seasonally adjusted annual rate of urban starts increased by 13.8 per cent in Ontario.

As Canada’s national housing agency, CMHC draws on more than 60 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable homes. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making vital decisions.

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