The six-month moving average of housing starts in Canada in November was at a seasonally adjusted annual rate of 199,135 units compared with 199,641 units in October, a decrease of 0.25 percent, according to the Canada Mortgage and Housing Corporation.
“Housing starts kept a steady pace in November as upward trends observed in British Columbia and the prairies offset downward trends recorded in Ontario, Quebec and the Atlantic provinces,” said Bob Dugan, CMHC chief economist, in a statement. “We’re also seeing that housing starts are on track to have moderated in 2016 compared to 2015 in most centers where we detected overbuilding.”
Urban housing starts in November were at a seasonally adjusted annual rate of 166,828 units, down 5.25 percent from October’s rate of 175,598.
