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Housing starts fell in July: CMHC" T8 ?0 }+ M: @; H R
(CP) – 41 minutes ago
2 j1 ~8 R7 h; J' P, Z- ?; `% Z. b4 \# yOTTAWA — Housing starts declined last month from where they were in June but are expected to rise later this year, Canada Mortgage and Housing Corp. said Tuesday.
/ N. v6 c+ g( W, W9 v0 b; e+ _Housing starts fell to 132,100 units in July from 137,800 units in June, on a seasonally adjusted annual rate, mostly because of the multiple-units segment that includes condos and apartment buildings.! a5 F9 I! |) w. j `
In July of last year, there were 18,229 actual starts. The agency estimated there were 12,712 actual starts last month.. h3 w0 i* G! a
"Although July registered a decline, housing starts are expected to improve throughout 2009," said Bob Dugan, chief economist at the corporation's market analysis centre.
\, y) u0 c* c# u3 ]9 K8 [The agency predicted that over the next several years housing starts will gradually become more closely aligned to demographic demand, which is currently estimated at about 175,000 units per year.* x/ ]; l) v: {
Housing starts this year are down sharply from 2008 and 2007, when builders and buyers responded to a strong economy, low interest rates and years of pent-up demand.% _( J( ^* ` k
The corporation said in January that starts reached 211,056 units in 2008, down from 228,343 in 2007.1 W- U/ u2 S/ q5 X3 h) z. x1 h( i
It forecast 160,250 starts this year and about 163,350 for 2010.; j- \; R2 Z" v3 E) r) p& p. K) V
Urban starts on a seasonally adjusted basis fell 5.5 per cent in July to 113,500 units, with multiple starts down nine per cent and singles off 1.1 per cent.. W- ?: i" I5 n+ e$ g7 k& J
Rural starts were estimated at a seasonally adjusted annual rate of 18,600 units.
% `# \: `; H( S$ IStarts in Quebec rose 16.6 per cent in July, while they fell in other regions, including a 15-per-cent drop in Ontario. |
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发表于 2009-8-11 07:07
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