{"id":233932,"date":"2019-10-08T21:38:19","date_gmt":"2019-10-09T01:38:19","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=233932"},"modified":"2019-10-08T21:38:19","modified_gmt":"2019-10-09T01:38:19","slug":"pace-of-canadian-housing-starts-slowed-in-september-but-less-than-expected","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2019\/10\/08\/pace-of-canadian-housing-starts-slowed-in-september-but-less-than-expected\/","title":{"rendered":"Pace of Canadian housing starts slowed in September but less than expected"},"content":{"rendered":"
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The overall decrease in the rate of housings starts last month came as the pace of urban starts fell 2.4 per cent to 208,503 units. (Pexels Photo)<\/figcaption><\/figure>\n

OTTAWA \u2014 The pace of Canadian housing starts slowed in September compared with August, but still came in better than expected.<\/p>\n

Canada Mortgage and Housing Corp. said Tuesday the seasonally adjusted annual rate fell 2.5 per cent month-over-month to 221,202 units in September compared with 226,871 in August.<\/p>\n

However, economists on average had expected an annual pace of 214,500 for September, according to financial markets data firm Refinitiv.<\/p>\n

\u201cThis continues to reflect strong demographic demand, both from international inflows and new households created within Canada,\u201d said Robert Kavcic, a senior economist at Bank of Montreal.<\/p>\n

\u201cThere’s a lot of homebuilding activity going on across the vast majority of Canada.\u201d<\/p>\n

The overall decrease in the rate of housings starts last month came as the pace of urban starts fell 2.4 per cent to 208,503 units.<\/p>\n

Urban starts of apartment, condo and other types of multiple-unit housing projects dipped 0.2 per cent to 159,742, while starts of single-detached urban homes fell 9.2 per cent to 48,761 units.<\/p>\n

Rural starts were estimated at a seasonally adjusted annual rate of 12,699 units.<\/p>\n

The six-month moving average of the monthly seasonally adjusted annual rates of housing starts was 223,507 in September, up from 218,782 in August.<\/p>\n

The CMHC’s monthly report follows industry figures that show home sales have been stronger than last year and stronger than the early months of 2019.<\/p>\n

Last month, the Canadian Real Estate Association raised its 2019 forecast sales of existing homes to 482,000 units, up five per cent from 2018.<\/p>\n

\u201cCanada’s housing sector is back on the front foot with resales picking up as the year progresses and homebuilding activity clearly displaying some momentum,\u201d Josh Nye, a senior economist at Royal Bank, said Tuesday.<\/p>\n

\u201cOntario, the Prairies and Atlantic Canada are on the rebound while the trend in B.C. and Quebec remains strong despite slower starts in the last month or two.\u201d<\/p>\n

In a separate report, Statistics Canada said Tuesday the value of building permits issued by Canadian municipalities rose 6.1 per cent to nearly $9.0 billion in August.<\/p>\n

The value of permits for multi-family dwellings increased 18.8 per cent to $3.3 billion in August, while the value of permits for single-family homes rose 3.2 per cent to $2.4 billion.<\/p>\n

Industrial permits rose 18.9 per cent to $675 million, while commercial permits fell 5.9 per cent to $1.9 billion. Institutional permits slipped 10.7 per cent to $651 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

OTTAWA \u2014 The pace of Canadian housing starts slowed in September compared with August, but still came in better than …<\/p>\n","protected":false},"author":44,"featured_media":216152,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,21],"tags":[],"class_list":["post-233932","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-real-estate","mauthors-the-canadian-press"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/233932","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=233932"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/233932\/revisions"}],"predecessor-version":[{"id":233933,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/233932\/revisions\/233933"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/216152"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=233932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=233932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=233932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}