Annual pace of housing market slows in January: CMHC

OTTAWA -- The annual pace of housing starts slowed in January.

Canada Mortgage and Housing Corp. said Friday that the seasonally adjusted annual rate of housing starts for the first month of the year was 165,861 units, down from 172,533 in December.

See Full Article

The decrease came as the annual pace of urban starts fell 3.0 per cent in January to 153,701 units.

Multiple urban starts decreased by 5.3 per cent to 95,406, while single-detached urban starts increased by 1.0 per cent to 58,295.

The pace of urban starts fell in Quebec, the Prairies and British Columbia, but increased in Ontario and Atlantic Canada.

Rural starts were estimated at a seasonally adjusted annual rate of 12,160 units.

The six-month moving average of the seasonally adjusted annual pace was 199,169 units in January compared with 203,304 in December.

"Housing starts trended down across the country with the exception of Ontario," CMHC chief economist Bob Dugan said.

"The overall decline is mostly attributable to a slowdown in the Prairies where the housing starts trend was at a four-year low in January. The slowdown in new housing activity coincides with an unemployment rate that is at a five-year high in Alberta".



Advertisements

Latest Economic News

  • Third round of NAFTA talks opens in Canada

    Economic CTV News
    OTTAWA -- A third round of NAFTA renegotiations has begun with chief negotiators from Canada, the U.S. and Mexico meeting in the Canadian capital. Canada's chief negotiator, Steve Verhuel, said Saturday that he doesn't expect this round to see any new U.S. Source
  • Chief Canadian NAFTA negotiator not expecting progress on auto content rules

    Economic CTV News
    OTTAWA - Despite tough talk from the U.S. about the job-killing impact of NAFTA on its automotive sector, Canada's chief negotiator isn't expecting to see a detailed proposal from the Americans during the latest round of talks to rewrite the continental trade pact. Source
  • 'Trump has scared the bejesus out of everyone': How Canada could win the Amazon sweepstakes

    Economic CBC News
    Handicapping the Amazon sweepstakes has become something of a cottage industry in the last few weeks. Predictions of which city will land the company's coveted second headquarters cite everything from the bright lights of big cities like New York and Boston to Denver's crisp Rocky Mountain air to Chicago's spot as a hurricane-free haven. Source
  • Pickleball, anyone? A planned retirement village for active boomers

    Economic CBC News
    Tony DiFruscio is a confessed Disney-holic. "I'm a huge Disney fan," says the president of Zest Communities, a Hamilton property developer. "We go there every year with the family, my oldest son went there for his honeymoon. Source
  • Calgary and Saint John mayors urge NEB to reverse Energy East pipeline ruling

    Economic CTV News
    CALGARY -- Mayors from both ends of the proposed Energy East pipeline are calling for the National Energy Board to reverse its requirement that upstream and downstream emissions be included in its review of the $15.7-billion conduit. Source
  • Lawsuit tossed against Little Caesars over non-halal pepperoni

    Economic CTV News
    DETROIT -- A judge has rejected a lawsuit against a pizza franchise, alleging it sold pork as "halal pepperoni" at one of its locations in a Detroit suburb. The Detroit Free Press reports that on Thursday the Wayne County judge dismissed the lawsuit filed by Dearborn resident Mohamad Bazzi against Little Caesars Pizza. Source
  • Walmart testing service that delivers right into customers' fridges

    Economic CTV News
    NEW YORK -- Would you be OK with letting a stranger into your house for the sake of convenience? Walmart is testing the idea with a new service that lets a delivery person walk into your home when you're not there to drop off packages or put groceries in the fridge. Source
  • Quebec renews Uber's permit for another year with tighter rules

    Economic CTV News
    Quebec's transportation minister is renewing a deal allowing ride-hailing company Uber to operate for another year in the province. Laurent Lessard says the deal extension tightens the rules under which the San Francisco-based company will be permitted to continue offering its services to Quebecers. Source
  • Canadian firm applies to build $10-billion Jordan Cove LNG project in Oregon

    Economic CTV News
    CALGARY -- The Canadian company whose proposal to build an LNG export terminal in Oregon was derailed by U.S. regulators last year has resubmitted its application for a bigger, more expensive project. Calgary-based Veresen Inc. Source
  • OPEC says winning battle to end oil glut

    Economic CBC News
    OPEC and other oil producers are clearing a glut that has weighed on crude prices for three years and may wait until January before deciding whether to extend their output curbs beyond the first quarter of 2018, ministers said on Friday. Source