Canadian housing starts soar 22.7% in January
February 17, 2021 | 2:50 pm CST
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OTTAWA, Ontario – The Canadian Mortgage and Housing Corporation reported that 2021 housing starts were trending at 281,339 units in January, up 22.7% from 229,350 units in December.

“Both single- and multi-family Seasonally Adjusted Annual Rate (SAAR) starts rebounded strongly in January from declines in December, driving the overall trend higher,” said Bob Dugan, CMHC's chief economist. “Single-family starts were particularly strong in Montréal, reaching their highest level since February 2008.”

Nationally, SAAR rates of multiple urban starts increased by 24.1% to 193,328 units in January and single-detached urban starts increased by 38.1% to 73,549 units. Rural starts were estimated at a SAAR of 15,551 units.

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Rich Christianson is the owner of Richson Media LLC, a Chicago-based communications firm focused on the industrial woodworking sector. Rich is the former long-time editorial director and associate publisher of Woodworking Network. During his nearly 35-year career, Rich has toured more than 250 woodworking operations throughout North America, Europe and Asia and has written extensively on woodworking technology, design and supply trends. He has also directed and promoted dozens of woodworking trade shows, conferences and seminars including the Cabinets & Closets Conference & Expo and the Woodworking Machinery & Supply Conference & Expo, Canada’s largest woodworking show.