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

Like father, like son: second generation hockey player joins Campbell River Storm

Wyatt Murray’s father, Ben Murray, played for the team in late 90s

BC Transit rate change, embarking rules shift into action June 1

Campbell River transit system getting a new day pass

Bride thankful ailing stepdad was able to walk her down the aisle

Ceremony held amidst pandemic in order to fulfill bride’s wish to have stepdad give her away

B.C. aquaculture farm’s employees sweat it out to raise funds for food banks

For every five minutes of exercise recorded, Cermaq Canada is donating a dollar to local food banks in communities they operate

Province pays $4.08 million for hotel to house fire victims

The Government of B.C. has purchased a new building to help people… Continue reading

VIDEO: Injured bald eagle rescued in B.C. First Nations community

Bird suspected injured in fight, whisked off to Coquitlam rehab

Facing changes together: Your community, your journalists

The COVID-19 pandemic has changed the world in ways that would have… Continue reading

Mirror business directory and map

If you’d like to be added to the list, shoot us an email

Toronto Raptors’ Ujiri says conversations about racism can no longer be avoided

Thousands have protested Floyd’s death and repeated police killings of black men across the United States

‘I’m afraid’: Witnesses of wolf attack on senior near Prince Rupert worried about safety

Frank Russ shows where the unprovoked wolf attacked his father

Protesters prepare to rally against racism in front of Vancouver Art Gallery

Rally is in response to the deaths of black Americans and a Toronto woman

Man dies in ATV accident south of Nanaimo

Incident happened on backroad Friday night in Nanaimo Lakes area

Protesters rally against anti-black, Indigenous racism in Toronto

Police estimated the crowd to be between 3,500 and 4,000 and said there was no violence

Most Read