Canadian Housing Starts Increase in April

CMHC’s latest report on Canadian housing starts was released this morning and showed that the seasonally adjusted annual rate of housing starts in April 2010 was up 2,500 units or 1.3% over March 2010 to 201,700 units.

This is the latest evidence that Canada’s housing market is still doing exceptionally well and driving Canada’s economic recovery, and comes on the heels of Bank of Canada Governor Mark Carney’s comment last month that he expects the housing market to cool over the next few months as mortgage rates increase and HST comes into effect on July 1. I guess the cooling just didn’t start in April.

April’s provincial seasonally adjusted annual rate of urban starts housing start saw increases as follows:

  • +16.4% in British Columbia
  • +6.7% in the Prairie regions
  • +4.5% in Ontario
  • +1.1% in Quebec

Related Topics

Economic News / Mortgage News / Mortgages

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