CMHC: May housing starts in New Brunswick trending at 1,746 units

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Housing starts in New Brunswick were trending at 1,746 units in May, compared to 1,665 in April, according to Canada Mortgage and Housing Corporation (CMHC).

The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

“Multi-residential construction in the province, particularly in the rental market, has remained relatively stable in large provincial urban centres since the start of the year, offsetting reduced single-detached activity and this helped overall starts activity to trend higher in May,” said Claude Gautreau, CMHC’s Senior Market Analyst for New Brunswick.

The standalone monthly SAAR was 2,665 units in May, up from 663 in April.

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