This is in line with our forecasts,” said Mathieu Laberge, deputy chief economist at CMHC. Starts up in Ontario Starts were down in all regions except Ontario, where they were up 14 per cent, and Atlantic Canada, where they “held steady,” according to the CMHC The Prairies were down 21 per cent, B.C. was down 18 per cent, Quebec declined nine per cent and Atlantic Canada was down seven per cent. Alberta accounted for the bulk of the drop in the Prairies, which BMO economist Benjamin Reitzes suggests could be because the clean up from the devastating floods in late June diverted resources away from new home construction. “Canada’s housing market remains in good shape despite the larger-than-expected decline in August housing starts,” Reitzes said in a commentary. “Indeed, through the first eight months of 2013 starts are averaging 183,200, essentially right on demographic demand.
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August 2013 Housing Starts in Canada
Follow CMHC on Twitter @CMHC_ca . This release is also available at http://www.cmhc.ca . Additional data is available upon request. (Ce document existe egalement en francais) A graph and a table are available at the following link: http://media3.marketwire.com/docs/897006en.pdf . (1) All starts figures in this go here release, other than actual starts and the trend estimate, are seasonally adjusted annual rates (SAAR) – that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels. By removing seasonal ups and downs, seasonal adjustment allows for a comparison from one season to the next and from one month to the next.
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