Canada Housing Starts Hold Steady in October

Posted by Rich Christianson | Posted: 11/16/2011 1:26PM

 

OTTAWA, ON -- The pace of Canadian new home construction dipped ever-so-slightly in October, still staying above the 200,000 level.

The seasonally adjusted annual rate of housing starts was 207,600 units, down less than 1% from the 208,800 units logged in September, according to Canada Mortgage and Housing Corporation (CMHC).

"Housing starts posted a slight decline in October due to a decrease in single-detached starts in urban centers," said Mathieu Laberge, deputy chief economist at CMHC's Market Analysis Centre. "Urban multiple housing starts remained high in October, but overall housing starts are expected to moderate in line with demographic fundamentals."

 

About the Author

Rich Christianson

Rich Christianson is Associate Publisher and Editor at Large of Woodworking Network. During his 25+ years covering the wood products industry, Rich has toured hundreds of manufacturing plants throughout North America, Europe and Asia. His reporting has covered everything from the state of the industry and impact of wood imports to technology and environmental issues. In his current capacity he is responsible for editing the daily Woodworking Network Update newsletter and coordinating events including the annual Cabinets & Closets Conference & Expo and Canada’s biennial Woodworking Machinery & Supply Expo. He can be contacted at rchristianson@woodworkingnetwork.com or follow him on Google+.

Read more of Rich Christianson's blogs.


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