{"id":12304,"date":"2019-04-25T10:10:49","date_gmt":"2019-04-25T17:10:49","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=12304"},"modified":"2019-04-12T09:03:05","modified_gmt":"2019-04-12T16:03:05","slug":"the-housing-starts-downward-trend-is-stabilizing","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/04\/the-housing-starts-downward-trend-is-stabilizing\/","title":{"rendered":"The Housing Starts Downward Trend is Stabilizing"},"content":{"rendered":"<p style=\"text-align: justify;\">The number of new homes in Canada last month helped offset the major slowdown experienced by markets nationwide in February.<\/p>\n<p style=\"text-align: justify;\">Latest numbers from the Canada Mortgage and Housing Corporation showed that on a seasonally adjusted basis, national starts went up to 192,527 units in March, far outstripping the 166,290 units the month prior.<\/p>\n<p style=\"text-align: justify;\">Although the March data did not reach the 196,500 annual pace earlier predicted by economists, as polled by Thomson Reuters Eikon, the six-month moving average was at 202,279 (compared to February\u2019s 202,039).<\/p>\n<p style=\"text-align: justify;\">Multi-residential buildings like apartments, condominiums, and townhouses gave massive boosts to new construction volume, with urban multiple-unit starts increasing by 18.6% in March to reach 135,894 units.<\/p>\n<p style=\"text-align: justify;\">Meanwhile, single-detached urban starts grew by 12.1% to 42,139 units. Rural starts were measured at a seasonally adjusted annual rate of 14,494 units.<\/p>\n<p style=\"text-align: justify;\">\u201cThere\u2019s no doubt the Canadian housing market has slowed in the past year, but the latest data on construction suggests the downward trend is stabilizing,\u201d BMO Capital Markers senior economist Sal Guatieri stated earlier this week, as quoted by The Canadian Press.<\/p>\n<p style=\"text-align: justify;\">\u201cWe still see starts hovering around, or even just above, 200,000 this year, marking a small step back from last year while remaining historically high.\u201d<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.canadianrealestatemagazine.ca\/news\/march-housing-starts-compensate-for-february-weakness-256396.aspx\" target=\"_blank\" rel=\"noopener noreferrer\">March Housing Starts Compensate for February Weakness<\/a> by Ephraim Vecina | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The number of new homes in Canada last month helped offset the major slowdown experienced by markets nationwide in February. Latest numbers from the Canada Mortgage and Housing Corporation showed &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/04\/the-housing-starts-downward-trend-is-stabilizing\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-12304","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Housing Starts Downward Trend is Stabilizing &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2019\/04\/the-housing-starts-downward-trend-is-stabilizing\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"The Housing Starts Downward Trend is Stabilizing &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"The number of new homes in Canada last month helped offset the major slowdown experienced by markets nationwide in February. 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