OTTAWA – Canada Mortgage and Housing Corp. says the pace of housing starts slowed last month compared with April.
The seasonally adjusted annual rate for May came in at 188,570 units for the month, down from 191,388 in April.
The six-month moving average of the seasonally adjusted annual rate was 191,000 in May compared with 194,950 in April.
The pace of urban starts slowed by 2.5 per cent in May to 170,432 units as multiple-unit starts fell 5.7 per cent to 110,834 and single-detached starts increased 4.2 per cent to 59,598.
The annual pace of urban starts fell in British Columbia and the Prairies, but increased in Ontario, Atlantic Canada, and Quebec.
Rural starts were estimated at a seasonally adjusted annual rate of 18,138 units.
Meanwhile, Statistics Canada says the value of building permits issued by municipalities fell 0.3 per cent to $6.9 billion in April, the second consecutive monthly move lower.
The agency noted the drop was due to lower construction intentions in Ontario, Quebec and Nova Scotia.
Statcan says the value of residential permits fell 1.8 per cent to $4.3 billion in April as the permits for multi-family buildings fell 6.2 per cent to $1.9 billion, while single-family buildings gained 1.8 per cent at $2.5 billion.
Non-residential building permits climbed 2.5 per cent to $2.5 billion in April as institutional building permits gained 15.4 per cent at $695 million and commercial permits added 2.5 per cent at $1.5 billion. Industrial building permits fell 16.5 per cent to $346 million in April, the lowest level since October 2013.