EAL ESTATE

January housing starts down

JANUARY MULTIPLE
units construction pulled
tol housing starts down
14.9 per cent in January,
reported Canada Mort-
gage and Housing Cor-
poration,

Suurts fell to a seasonally
adjusted annual rate (SAAR)
of 142.500 units from a
revised level of 167.400 units
in December.

units SAAR i Decoatber, AL
the same time. single.
detached dwetlings tell 4.4%
10 69.200 units (SAAR) trod
72,400 last December.

“The January  cesults
reflect a dack of multiple
starts in British Columbia and
Ontario,

January results in B.C.
likely indicate a pause fol-
lowing strong levels in the
previots months.

Urban housiig starts in

lower starts of government-
assisted multiple umits stight
Wy from the December results.

British Columbia urban
Starts showed the hirgest drop
to S6.200 units from 45400
units in Devember.

Multiple anit construction
has bees at near-record levels
at the end of $992, Starts of
single-detached cdyed ap.

The SAAR is a monthly
figure that is adjusted to

926-6233

7200-1455 Bollevue Avanue,
Wes! Vancouver

SPRING BUY IT NOW”

remove normal seasonal varie
ation and multiplied by 12 to
reflect annual levels.

Ontario fell to 34400 units

(SAAR) in January, Soom

47,600 unils in December,
The decline reflected

Starts of multiple units in
urban centres fell 30.6 to
49.700 units (SAAR) in
January from a strong 71.600

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