Canadian Housing Starts Increase in May

The annual rate of housing starts in Canada increased to 128,400 in May compared with 117,600 in April, according to the Canada Mortgage and Housing Corp., adding that the increase is broadly based, including single- and multi-family homes.

The seasonally adjusted annual rate of urban starts increased 11.1 percent to 107,800 units in May.

May’s seasonally adjusted annual rate of urban starts increased 22 percent in Ontario,16.8 percent in the prairie provinces, 7.3 percent in Atlantic Canada and 3.3 percent in Quebec. Urban starts dropped 5 percent in British Columbia.