HomeContributorsFundamental AnalysisCanadian Housing Starts Jumped Higher in April

Canadian Housing Starts Jumped Higher in April

  • Housing starts jumped to 235,000 annualized units in April, continuing to pick up from a multi-year low of 167,000 in February when we think wintry weather restrained activity
  • The increase was led by multi-unit starts which rose to a record high 176,000 annualized units

Economists (including ourselves) were perhaps a bit shy to pencil in such a strong increase in housing starts in April, though the rapid pace of permit issuance in recent months and potential for weather-delayed starts to show up in the spring means today’s report isn’t a total surprise. Signs of stabilization in at least some major resale markets and ongoing strength in homebuilding—particularly the multi-unit segment—suggest the housing sector is shifting to a more neutral force in Canada’s economy after acting as a sizeable drag last year.

RBC Financial Group
RBC Financial Grouphttp://www.rbc.com/
The statements and statistics contained herein have been prepared by the Economics Department of RBC Financial Group based on information from sources considered to be reliable. We make no representation or warranty, express or implied, as to its accuracy or completeness. This report is for the information of investors and business persons and does not constitute an offer to sell or a solicitation to buy securities.

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