CMHC: Annual Pace of Housing Starts Fall Nearly 20% in April

Canada’s annual pace of housing starts declined almost 20% in April as the number of new multi-unit housing projects showed signs of slowing down.

According to data published by the Canada Mortgage and Housing Corp. on Monday, the annual pace of housing starts fell from 334,759 units in March to 268,631 units in April. Similarly, the annual pace of urban starts declined 16.9% to 251,504 units last month, as apartment, condo, and other multi-unit building projects suffered a drop of 22.8% to 251,504 units. Single-detached urban starts were also not immune to the broad decline, falling by 0.1% from last year’s levels to 78,918 units.

Source: CMHC

On the other hand, the six-month moving average of the seasonally adjusted annual rate of housing starts jumped from 272,164 units in March, to 279,055 units last month. “The national trend in housing starts remained elevated in April, despite a decline in the level of monthly SAAR starts from the record high set in March,” explained CMHC chief economist Bob Dugan.


Information for this briefing was found via the CMHC. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Why $50 Silver, $4000 Gold Might Be Closer Than Anyone Thinks | Bradley Langille – GoGold Resources

Why Silver’s True Price Could Be Much Higher | Joaquín Marias – Argenta Silver

Gold Enters A ‘Stronger For Longer’ Phase | Richard Young – i-80 Gold

Recommended

Emerita Resources Intersects Further Mineralization At El Cura, Expanding Deposit

ESGold Sees ANT Survey Reveal Vertically Continuous System To 1,200 Metres Depth

Related News

RBC: Booming Housing Market Activity Expected to Calm by 2022

The housing market in Canada has been booming amid the pandemic, despite relatively subdued activity...

Thursday, January 14, 2021, 02:50:00 PM

US House Down Payments Skyrocket by 69% to 20-Year High as Banks Tighten Lending Terms

As home prices in the suburbs and rural regions across America soar to record-highs propelled...

Saturday, November 28, 2020, 03:30:00 PM

Housing Prices in the Greater Toronto Area Reach New Record High, Surging by 20% in August

As some economic conditions continue to improve across Canada, some markets have seen a substantial...

Thursday, September 3, 2020, 04:15:00 PM

Commercial Property Foreclosures Increasing Across US as COVID-19 Forbearance Relief Expires

Although the coronavirus pandemic is showing no signs of dissipating anytime soon, many pandemic-related emergency...

Tuesday, October 6, 2020, 05:07:03 PM

Pending US Housing Crash? JPMorgan Chase To Require 20% Down Payment On New Home Sales

By all accounts, it appears that another real estate crash across the United States is...

Sunday, April 12, 2020, 11:47:00 AM