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.

Just Posted

UPDATE: Youth seen with gun at Nanaimo mall, suspect now in custody

Woodgrove Centre was shut down during police incident Monday

Local artist explores Nanaimo’s old Chinatown in new video installation

Charlotte Zhang among eight artists in Nanaimo Art Gallery’s ‘Estuary’ exhibition starting this week

Three blocks of Bruce Avenue will be closed until fall

Work will include utility upgrades, new curbs and sidewalks and new on-street bike lanes

Nanaimo Clippers won’t be hosting 2021 national championships

Hockey Canada hasn’t announced successful bid, but has advised it won’t be Nanaimo

Nanaimo students pushing for youth-led climate advisory group

Group would be responsible for organizing community cleanups, meetings and other events

‘Bad choices make good stories’: Margaret Trudeau brings her show to Just for Laughs

Trudeau says over the decades she has been suicidal, manic, depressed

Silly Boat Regatta fills Nanaimo harbour with silly sailing

Island Red Cedar Construction wins this year’s race

B.C. man dies from rabies after contact with Vancouver Island bat

Last known case of human rabies in B.C. was 16 years ago

Nanaimo’s peewee girls win provincial lacrosse championship

Peewee B Timbermen defeat Coquitlam Adanacs 5-2 to win gold

Crown recommends up to two-year jail term for former Bountiful leader

Crown says sentence range should be 18 months to two years for Bountiful child removal case

Diversity a Canadian strength, Trudeau says of Trump tweets at congresswomen

Trudeau avoided using Trump’s name when he was asked about the president’s Twitter comments

B.C. couple bring son home from Nigeria after long adoption delay

Kim and Clark Moran of Abbotsford spent almost a year waiting to finalize adoption of Ayo, 3

Garneau ‘disappointed’ in airlines’ move against new passenger bill of rights

New rules codified compensation for lost luggage, overbooked flights

Mercury tops out on top of the world: Alert in Nunavut warmer than Victoria

It’s the latest anomaly in what’s been a long, hot summer across the Arctic

Most Read