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Main Indicator: Housing Starts
Most Recent Release
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Actual | Forecast | Previous | Revised Form | |
| 218 | 217.5K | 228K | 221K | ||
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For June
From the Release: "The seasonally adjusted annual rate1 of housing starts was 217,800 units in June, down from 227,700 units in May, according to Canada Mortgage and Housing Corporation (CMHC). “Despite the decrease in June, total housing starts remain at high levels.” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “This is mostly due to the multiple segment which has been continuously above the 100,000 unit threshold since the beginning of the year.” The seasonally adjusted annual rate of urban starts moved down by 5.0 per cent in June compared to May. Both urban multiples and singles decreased, with a decline of 3.0 per cent for multiples to 114,700 units, and a 7.8 per cent drop for singles to 74,600 units." USD/CAD - Loonie Gains 100 Pips on Greenback, Strongest Session in a Week: The Loonie took the offensive against the greenback, with the US Dollar-Canadian Dollar pair sliding 100 pips to trade near 1.01. It's the biggest move in favor of the Loonie about a week, as the Canadian housing starts release, corresponded with higher oil prices and general US Dollar weakness in today's session.
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Table of Past Data
| 10/9 | 11/8 | 12/10 | 1/9 | 2/8 | 3/10 | 4/8 | 5/8 | 6/9 | 7/9 | ||
| Actual | 278K | 220K | 228K | 188K | 223K | 257K | 255K | 213.9K | 221K | 218 | |
| Forecast | 220K | 230K | 220K | 220K | 210K | 204K | 225K | 225K | 220K | 217.5K | |
| Previous | 233K | 281K | 228K | 228K | 185K | 223K | 257K | 243K | 214K | 228K | |
| Revised From | 227K | N/A | N/A | N/A | N/A | N/A | N/A | 255K | N/A | 221K | |
Past Releases
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Actual | Forecast | Previous | Revised Form | |
| 221K | 220K | 214K | N/A | ||
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For May
For the first five months of 2008, actual starts in rural and urban areas combined were up an estimated 0.7 per cent compared to the same period last year. Year-to-date actual starts in urban areas have increased by an estimated 5.6 per cent over the same period in 2007. Actual urban single starts for the five months of this year were 14.8 per cent lower than they were a year earlier, while multiple starts increased by 22.7 per cent over the same period. |
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Actual | Forecast | Previous | Revised Form | |
| 213.9K | 225K | 243K | 255K | ||
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For April
Provided by: Mortgage and Housing Corporation March's Release: News Release The annual rate of housing starts declined by 12% in April, as multiple dwelling starts fell 19%. Multiple starts had recorded the 2nd and 3rd highest rate for March and February, since 1978, but retreated in April. despite the poor figures, Bob Dugan, the Chief Economist at CMHC's Market Analysis Centre, maintained that housing starts " remain robust at over 200,000 units." From the release:The seasonally adjusted annual rate of urban starts went down in all regions of Canada, except British Columbia, which saw an increase of 17.1 per cent to 34,900 in April. Urban starts decreased to 7,500 units in Atlantic Canada, 37,600 units in Quebec, 73,000 units in Ontario, and 32,400 units in the Prairies. In terms of single urban starts, all regions except Quebec were down in April. Quebec registered an increase of 9.3 per cent to 12,900 units. |
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Actual | Forecast | Previous | Revised Form | |
| 255K | 225K | 257K | N/A | ||
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For March
From the Release: "The seasonally adjusted annual rate1 of housing starts was 254,700 units in March, slightly down from 255,600 units in February, according to Canada Mortgage and Housing Corporation (CMHC). The results for March came in higher than expected, showing a resiliency in the Canadian housing market, despite the severe slowdown in the US. The USD/CAD pair has been trending up this week so far, though today's trading is somewhat sideways, with the housing start news, and the NY open giving the Loonie some small boost. |
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Actual | Forecast | Previous | Revised Form | |
| 257K | 204K | 223K | N/A | ||
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For February Provided by: Mortgage and Housing Corporation
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Actual | Forecast | Previous | Revised Form | |
| 223K | 210K | 185K | N/A | ||
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For December.
Provided by: Mortgage and Housing Corporation
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Actual | Forecast | Previous | Revised Form | |
| 188K | 220K | 228K | N/A | ||
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For December. Official Release from Mortgage and Housing Corporation Although December's annually adjusted rate of housing starts slumped, the total housing starts for 2007 are estimated at 229,600 according to the CMHC. This is the highest level in two decades. December's starts were dragged down by winter related weakness in residential construction, consisting of the volatile multiples segment and single-detached starts. |
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Actual | Forecast | Previous | Revised Form | |
| 228K | 220K | 228K | N/A | ||
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For November Canada Mortgage and Housing Corporation The Canadian housing market appears to be stable according to the CMHC. Bob Dugan, Chief Economist at the CMFC's Market Analysis Centre, noted "the strength in November is attributable to the good performance of single-detached home starts, which reached their highest level since March 2006.". Urban single starts, up 12.8% offset the decrease in multiple starts, which dropped 9.8%. |
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Actual | Forecast | Previous | Revised Form | |
| 220K | 230K | 281K | N/A | ||
| For October. | |||||
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Actual | Forecast | Previous | Revised Form | |
| 278K | 220K | 233K | 227K | ||
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Seasonally Adjusted Annual Rate for September. September housing starts increased by 19.6% from August. It was led by strong condominium starts, as condos have been selling well the past 12 to 24 months, according to Canada Mortgage and Housing Corportation. "Despite the sizable growth in September, we continue to expect that housing starts will decrease gradually between now and the end of 2008" said Bob Dugan, Chief Economist at CMHC's Market Analysis Center. |
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