Canadian housing starts increased 11% from August to September to a seasonally adjusted annual rate of 299,589 units, according to the CMHC. It was the highest Canadian housing start rate since November 2021’s 305,889.
Total urban starts increased 12%, and multi-unit urban starts increased 16%. Single-detached urban starts remained flat.
“Montreal, Toronto and Vancouver recorded large increases in SAAR multi-unit starts, resulting in the overall increase for Canada,” CMHC Chief Economist Bob Dugan said in a statement. “Housing starts activity remains elevated in Canada in 2022.”
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