Canadian housing starts forecasted to dip - Canada Mortgage and Housing Corporation forecast - Industry Trend or Event - Brief Article

Home Channel News, June 7, 1999

Canada Mortgage and Housing Corporation (CMHC) forecasted that homebuilding would fall a fraction of a percent in 1999 to a seasonally-adjusted annual rate of 137,100 units. Multifamily starts are projected to rise 1.5 percent to 51,800 units in 1999, and single-family starts are projected to declined 1.3 percent to 85,300 units.

Housing activity in Ontario, Nova Scotia and New Brunswick will see the largest growth in housing activity in 1999, while Alberta and British Columbia will suffer the greatest declines, the report states. In 2000, the CMHC forecasts overall starts to bounce back with a 5.1 percent increase to 144,100 units.