Housing starts in Canada declined 20.1% in September to a seasonally adjusted annual rate of 208,980, according to the Canada Mortgage and Housing Corporation.
Multiple urban starts fell 27.0%, and urban starts declined 21.1%. Single-detached urban starts grew 3.4%.
“Multi-family starts have been very volatile in recent months, partly reflecting the impact of COVID-19,” CMHC Chief Economist Bob Dugan stated. CMHC expects national starts will trend lower by the end of 2020.
The full CMHC report can be accessed here.
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