BUSINESS
06/08/2011 09:46 EDT | Updated 08/08/2011 05:12 EDT

Housing Starts Increase In May: Canada Mortgage and Housing Corporation

AP

THE CANADIAN PRESS -- Canada Mortgage and Housing Corp. says housing starts increased in May, largely on the strength of rural builds and urban multiples.

The seasonally adjusted annual rate of housing starts was 183,600, up from 178,700 in April.

The agency reports single starts declined in May.

Urban starts increased 0.8 per cent to an annual rate of 161,000 units in May.

Urban multiple starts were up four per cent to 100,000 units, while single urban starts fell 4.1 per cent to 61,000 units.

May’s annual rate of urban starts increased 33.3 per cent in British Columbia, 13.5 per cent in Quebec, 11 per cent in the Atlantic region, and 10 per cent in the Prairies; Ontario fell 22.9 per cent.

Rural starts were estimated at a seasonally adjusted annual rate of 22,600 units in May.