A worker is seen working on a construction project at UBC in Vancouver, Tuesday, Apr. 23, 2019. THE CANADIAN PRESS/Jonathan Hayward

CMHC reports pace of Canadian housing starts slowed in May, below estimate

Economists on average had expected an annual rate of 205,000

Canada Mortgage and Housing Corp. says the pace of housing starts slowed in May.

The housing agency say the seasonally adjusted annual rate of housing starts slipped to 202,337 units in May, down 13.3 per cent from 233,410 units in April.

Economists on average had expected an annual rate of 205,000, according to Thomson Reuters Eikon.

The annualized pace of urban multiple-unit projects such as condominiums, apartments and townhouses fell 18.5 per cent to 141,851 in May while the pace of single-detached urban starts rose 1.8 per cent to 45,095.

Rural starts were estimated at a seasonally adjusted annual rate of 15,391 units.

The six-month moving average of the monthly seasonally adjusted annual rates was 201,983 in May compared with 205,717 in April.

READ MORE: CMHC says overall housing market no longer highly vulnerable after prices ease

The Canadian Press


Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

New opportunity for youth to help build a sustainable future

Youth across B.C. are being invited to apply before July 12 for this exciting program

District of Barriere Utilities Manager reports to council on Barriere wells

District of Barriere Utilities Manager Ian Crosson presented a verbal report during… Continue reading

Teamsters parade the big guys through Barriere

Every year when the annual North Thompson Fall Fair and Rodeo takes… Continue reading

Interior will be getting 495 new long-term care beds

Star / Journal The Province and Interior Health announced Monday that they… Continue reading

Barriere AG Foods shopper wins “Wheel Into Summer’ $25,000 grand prize package for B.C.

Congratulations to Barriere AG Foods shopper Valentine Mattey, the lucky 2020 Wheel… Continue reading

21 new COVID-19 cases confirmed in B.C. as virus ‘silently circulates’ in broader community

Health officials urge British Columbians to enjoy summer safely as surge continues

Tough time for tree fruits as some B.C. farm products soar

Province reports record 2019 sales, largely due to cannabis

Northern Indigenous cannabis cultivation facility to supply over 60 private B.C. stores

Construction to soon resume on Nations Cannabis in Burns Lake

‘Let’s all do a self-check’: Okanagan mayor reacts to racist vandalism targeting local family

Home of Indo-Canadian family in Summerland was targeted on evening of July 13

Province agrees to multimillion-dollar payout for alleged victims of Kelowna social worker

Robert Riley Saunders is accused of misappropriating funds of children — often Indigenous — in his care

B.C. businessman David Sidoo gets 3 months behind bars for college admissions scam

Sidoo was sentenced for hiring someone take the SATs in place of his two sons

PHOTOS: Inside a newly-listed $22M mega-mansion on ALR land in B.C.

The large home, located on ALR land, is one of the last new mansions to legally be built on ALR land

Thousands of dollars in stolen rice found in B.C. warehouse

Police raid seizes $75,000 in ‘commercial scale’ theft case

COVID-19 gives B.C. First Nation rare chance to examine tourism’s impact on grizzly bears

With 40 infrared cameras deployed in Kitasoo-Xai’Xais territory, research will help develop tourism plan with least impact on bears

Most Read