Housing starts were trending at 182,754 units in April, down from 188,369 in March. The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR).
Urban starts decreased in Ontario (-14.9 per cent), British Columbia (-5.6 per cent) and Atlantic Canada (-40.8 per cent) and increased in Quebec (14.8 per cent) and the Prairies (9.3 per cent).
The standalone monthly seasonally adjusted annual rate was also down to 174,858 units in April, from 181,146 units in March.
“As expected, the trend in total housing starts continued to moderate in April,” said Mathieu Laberge, Deputy Chief Economist at CMHC. “As a result, it drew closer to its historical average and is in-line with estimates of household formation. Recent moderation in total housing starts has been led by the multiple starts segment, particularly in Ontario.”
Hungry for more data? Check out our story on Urbanation’s latest report on the Toronto condo market here.