Reed Construction Data

According to data just released by Canada Mortgage and Housing Corporation (CMHC), housing starts through April of this year have averaged 229,000 units on a seasonally adjusted annualized basis. Unit starts in each of the past three months have been revised downward by about 12,000 units. Through March 2008, and prior to the revisions, starts had been +9.0% versus the same period in 2007. Now, through April (and including the revisions), they are only +2.1% ahead of last year, with further easing expected in the months ahead.

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