Canadian Funding Corp. Reviews CMHC Statistics

Housing starts: After a slow start in 2009, housing starts will become stronger by the end of 2009 and average 141,900 units. In 2010, starts will increase to approximately 164,900 units.  The strong pace of resales reflects, in part, activity that was delayed in the previous two quarters of 2009 and is likely not to be sustained. MLS® resales will be about 441,300 units for 2009, up from 433,990 units in 2008.

A “start” for the purposes of the Starts and Completions Survey, is defined as the beginning of construction work on a building, usually when the concrete has been poured for the whole of the footing around the structure, or an equivalent stage where a basement will not be part of the structure.

A “completion” is defined as the stage at which all proposed construction work on the building has been performed, although under some circumstances a building may be counted as completed where up to 10 percent of the proposed work remains to be done.

For multiple-dwelling structures, the definition of a Start or a Completion applies to the structure rather than to the individual dwelling units therein.

The number of units “under construction” as at the end of the period shown, takes into account certain adjustments which are necessary for various reasons. For example, after a start on a dwelling has commenced construction may cease, or a structure when completed may contain more or fewer dwelling units than were reported at start.

A dwelling is defined as being “absorbed” when a binding, non-conditional agreement is made to buy or rent the dwelling.

Only new self-contained dwelling units are enumerated in the Starts and Completions Survey, such units being designed for non-transient and year-round occupancy.