The seasonally adjusted annual rates of housing starts in Canada jumped 16.2 percent from a month earlier to 193,453 units in May 2020, beating market expectations of 155,000 units, according to Canada Mortgage and Housing Corporation (CMHC). Urban starts rose by 13.8% to 181,122 units, as multiple urban starts increased by 12.3% to 135,859 units and single-detached urban starts went up by 18.6% to 45,263 units. The release also included national housing starts totals without Quebec in order to assess the impact of the coronavirus crisis where the survey was conducted in both April and May, following the introduction of pandemic measures in the province in late March. Excluding Quebec, housing starts slumped by 20.4% to 132,576 units. Urban starts dropped by 21.6% due to both multiple (-27.2%) and single-detached urban starts (-3.9%). Rural starts were estimated at a seasonally adjusted annual rate of 7,772 units excluding Quebec.
Housing Starts in Canada averaged 186.28 Thousand units from 1977 until 2020, reaching an all time high of 291.60 Thousand units in March of 1978 and a record low of 90.70 Thousand units in August of 1982. This page provides the latest reported value for - Canada Housing Starts - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Canada Housing Starts - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Canada Mortgage And Housing Corporation
Housing Starts in Canada is expected to be 210.00 Thousand units by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Housing Starts in Canada to stand at 213.00 in 12 months time. In the long-term, the Canada Housing Starts is projected to trend around 213.00 Thousand units in 2021 and 216.00 Thousand units in 2022, according to our econometric models.