The six-month moving average of Canadian housing starts in October was 216,770 units, less than a 1 percent increase compared with 215,153 units in September, according to the Canada Mortgage and Housing Corporation.
”The trend in housing starts essentially held steady in October following a decrease in September,” said Bob Dugan, CMHC’s chief economist, in a statement. ”Nevertheless, new home construction remains very strong in 2017, as the seasonally adjusted number of starts has been above 200,000 units in nine of 10 months so far this year.”
Month-over-month, the seasonally adjusted annual rate of Canadian housing starts in October was 222,771, a 1.6 percent increase from 219,293 in September. Multifamily starts increased 12.5 percent to 149,593, and urban single-family starts decreased 17.1 percent to 56,342.
