Canada’s building boom appears to be showing signs of slowing down. According to the CMHC’s latest stats, housing starts across the country were trending at 195,760 units in December compared to 196,430 in November, a very slight drop of 0.3 per cent. The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
The standalone monthly SAAR was 189,672 units in December, a 4.1 per cent decrease from the 197,797 starts recorded in November. The SAAR of urban starts decreased by 5.1 per cent in December to 168,214 units while multiple urban starts fell by 4.1 per cent to 108,910 units last month. Single-detached urban starts fell the most, dropping by 6.7 per cent to 59,304 units.
In December, the seasonally adjusted annual rate of urban starts increased in British Columbia and Quebec while decreasing in the Prairies, Atlantic Canada and Ontario.
We also looked into preliminary housing start data for urban centres with a population of 10,000 or more to see how actual starts for the whole of 2013 and 2012 compare. Check out our map and tables below to see which provinces and major cities saw construction pick up or drop off: