The six-month moving average of Canadian housing starts in May was 214,621 units, 0.5 percent higher than 213,435 units in April, according to the Canada Mortgage and Housing Corporation.
“Housing starts trended higher in May in Canada’s urban areas,” said Bob Dugan, CMHC chief economist, in a statement. “Row and apartment units led the upward move, while construction has slowed for pricier single- and semi-detached houses.”
Month-over-month, the seasonally adjusted annual rate of housing starts in Canada in May was 194,663, an 8.8 percent decrease from 213,498 in April. Urban starts decreased 10.2 percent to 178,518, and multifamily starts decreased 8.9 percent to 59,824.
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