The six-month moving average of the seasonally adjusted annual rate of housing starts in December in Canada was 198,053 units, a 1.02 percent decrease compared with 200,105 in November, according to the Canadian Mortgage and Housing Corporation.
The monthly seasonally adjusted annual rate of starts in December was 207,041 units, up 9.5 percent from 187,273 units in November.
Urban starts increased 11.8 percent to 187,621 units while multiple urban starts rose 13.9 percent to 120,750 units.
“December saw multi-unit construction slow for the third consecutive month in Canada, leading housing starts to trend down,” said Bob Dugan, CMHC chief economist, in a statement. “However, 2016 still counted more home starts than 2015. Increased demand for single detached homes more than offset the decline we’re seeing in multi-unit construction—a decline that’s in response to efforts to manage current inventories.”
