Blog  //  Housing Starts Rise in March: CMHC

13 Apr. Posted by Ryan Crane in Oakville Homes | 0 comments
Oakville Homes

The latest figures released by the Canadian Mortgage and Housing Corporation (CMHC) showed that housing starts rose in March.

Housing data continues to be positive, and it seems like there is some balance coming back to the market- with increases in some regions, and decreases in others, resulting in an overall upwards trend.

The seasonally adjusted annual rate of housing starts registered in at 188,800 units in March- which is a rise up from 183,700 units in February 2011. The 'Oakville real estate' market played a small role in helping increase the numbers that were led higher predominantly by Ontario and the Atlantic region.

“Housing starts moved higher in March mostly because of increases in rural starts,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “Urban starts saw little change as the increase in Ontario’s multiples segment was off-set by a decrease in British Columbia’s multiples and a decrease in single housing starts in the Prairies.”

Urban starts rose by 0.4 % to 163,500 units in March. Urban multiple starts rose by 6.6 % in March to 101,400 units, while single urban starts fell by 8.3 % to 62,100 units.

The seasonally adjusted annual rate of urban starts for March fell by 23.4 % in British Columbia and by 19.3 % in the Prairies. Balancing this out, urban starts rose by 13.6 % in Ontario, by 11.5 % in the Atlantic region and by 8.6 % in Québec.

CMHC estimated seasonally adjusted rural starts were 25,300 units in March. Since the town opened up areas North of Dundas to developers in the 'Oakville Real Estate' market, the number of new housing starts should be soild over the next few years in 'Oakville Real Estate'.

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13/04/2011 – Article posted by Ryan Crane, an 'Oakville Real Estate agent' that specializes in the Milton, Burlington, Mississauga and 'Oakville Real Estate' markets. You can find him at www.oakvillerealestate4sale.ca

Website by Oakville Real Estate Agent that offers MLS tools that let you find all Oakville Homes for Sale and gives you access to all Oakville MLS Listings and the Oakville Sold Homes.

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