Canadian housing starts climb 7.3% in September
Canadian housing starts climb 2.8% in March

Canadian housing starts climb 7.3% in SeptemberOTTAWA, ON — Canada's housihng industry smashed through the 200,000 new starts barrier in September, according to the Canadian Mortgage and Housing Corporation (CMHC).

Housing starts increased 7.3% in reaching 205,900 units for a seasonally adjusted annual rate, up from 191,900 in August.

“Housing starts picked up in September due to an increase in multiple starts in the Atlantic region, Quebec and in British Columbia,” said Mathieu Laberge, deputy chief economist at CMHC’s Market Analysis Centre. “Multiple housing starts are expected to move back towards levels consistent with demographic fundamentals in the near term.”

The seasonally adjusted annual rate of urban starts increased by 8.0% to 185,900 units in September. Multiple urban starts were up by 14.2% to 118,000 units, while urban single starts decreased by 1.5% in September to 67,900 units.

Read Canadian Mortgage and Housing Corporation's press release.

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