OTTAWA, ON - The seasonally adjusted annual rate of Canadian housing starts reached 158,500 units in November.
This is an increase from 157,400 units started in October, according to Canada Mortgage and Housing Corp. (CMHC). “The improvement in housing starts continued in November,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “Despite a small decline in November’s multiple home construction, overall starts numbers were up due to a solid increase in singles starts.”
The November total is the highest of the year. The seasonally adjusted annual rate of urban starts increased by 0.7% to 141,100 units in November. Urban multiple starts decreased slightly from 72,500 units in October to 71,300 units in November. Single urban starts increased by 3.4% to 69,800 units in November.
November’s seasonally adjusted annual rate of urban starts increased by 10 per cent in Quebec, by 8.2% in the Prairies and by 6.2% in British Columbia. The rate of urban starts decreased by 8.3% in Ontario and by 9.8% in Atlantic Canada.
Rural starts were estimated at a seasonally adjusted annual rate of 17,400 units in November.
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