OTTAWA, ON -- The seasonally adjusted annual rate of Canadian housing starts was 189,300 units in June, equivalent to a 3.1% drop, according to Canada Mortgage and Housing Corporation (CMHC). 

“Housing starts decreased during June, largely due to the multiple starts segment in Ontario. The single starts segment was largely unchanged Canada-wide.” said Bob Dugan, chief economist at CMHC’s Market Analysis Centre. “After a robust start to 2010, we expect the pace of housing start activity to moderate and total 182,000 units by year-end.”

The seasonally adjusted annual rate of urban starts decreased by 2.6% to 167,000 units in June. Urban multiple starts decreased by 5.8% to 89,200 units, while single urban starts edged higher by 1.4% to 77,800 units.

June’s seasonally adjusted annual rate of urban starts decreased 19.8% in Atlantic Canada and 17.4% in Ontario. Urban starts increased 11.6% in Quebec, 8.6% in the Prairie Region and 6.3% in British Columbia.

Rural starts were estimated at a seasonally adjusted annual rate of 22,300 units in June.

Read Canada Mortgage and Housing Corporation's press release.