Housing starts in Canada in September were at a seasonally adjusted annual rate of 220,617, an increase of 19.7 percent compared with August’s rate of 184,201, according to the Canada Mortgage and Housing Corporation.
“Housing starts were on an upward trend in September, as residential construction increased across the country with the exception of Ontario,” said Bob Dugan, CMHC chief economist, in a statement. “Quebec saw the largest gain in housing starts due to the development of new rental apartments intended for seniors. That said, Quebec’s growing apartment stock emphasizes the importance of inventory management.”
Read Next
