Canadian Housing Starts Drop 20.1% in September

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.