October housing starts trend lower in Canada

November 11, 2019

By: The Working Forest Staff

CMHC –The national trend in housing starts decreased in October. Multi-family starts in urban centres trended lower following 4 months of consecutive gains, offsetting a modest increase in the trend of urban single-detached starts in October.

The trend in housing starts was 218,598 units in October 2019, compared to 223,276 units in September 2019, according to CMHC. This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

The standalone monthly SAAR of housing starts for all areas in Canada was 201,973 units in October, down 8.7% from 221,135 units in September. The SAAR of urban starts decreased by 9.0% in October to 189,304 units. Multiple urban starts decreased by 12.5% to 139,518 units in October while single-detached urban starts increased by 2.4% to 49,786 units. Rural starts were estimated at a seasonally adjusted annual rate of 12,669 units.

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