U.S. and Canada Housing Starts Were Down in May

May housing starts in the U.S. (in a report released June 16 by the U.S. Department of Commerce) decreased 5.5% to 1,092,000 units. Single-family starts decreased 3.9% to 794,000 units, while multi-family decreased by 9.7% to 298,000 units. Total U.S. permits, an indicator of future construction, decreased by 4.9% to 1,168,000 units (SAAR).

Starts increased in one region:

  • Northeast (0.0%)
  • Midwest (- 9.2%)
  • South (- 8.8%)
  • West (+ 1.3%)

See the full U.S. report.

Canada

May housing starts (released June 8 by Canada Mortgage & Housing Corporation) went to 194,663 units, decreasing 8.8% from April (SAAR). Total urban starts decreased by 10.2% to 178,518 units; total rural starts increased 9.8% to 16,145 units.

Starts rose in two regions:

  • Atlantic Provinces (- 14.9%)
  • Quebec (- 24.6%)
  • Ontario (- 28.1%)
  • Prairie Provinces (+ 21.1%)
  • British Columbia (+ 5.5%)

See the full Canadian report.

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