The six-month moving average of seasonally adjusted annual housing starts in Canada in October was 199,920 units, a 0.3 percent increase compared with September’s rate of 199,262, according to the Canada Mortgage and Housing Corporation.
Monthly housing starts in Canada in October were at a seasonally adjusted annual rate of 192,928 units, down 12.1 percent compared with September’s rate of 219,363.
Urban starts in October decreased 12.1 to a seasonally adjusted annual rate of 176,131 units compared with September. Multiple urban starts decreased 15.3 percent to 115,402 units, and single-detached urban starts went down 5.4 percent to 60,729 units.
“In October, housing starts remained stable, as the trend remained essentially unchanged from September,” said Bob Dugan, CMHC chief economist, in a statement. “While apartment starts are on a downward trend in British Columbia after reaching an all-time high at the beginning of the year, increased construction of single, semi-detached and row units in the rest of the country have helped offset the decline.”
