October Canadian Housing Starts Rise

The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in October was 274,681 units, 1.5% higher than September. The SAAR of urban starts rose 2.4% from the previous month to 257,357. Multiple urban starts grew 1.0% to 209,887 and single-family levels climbed 9.2% from September to 47,470. The trend in housing starts improved 0.9% to 256,280 in October.

The Canada Mortgage and Housing Corporation (CMHC) uses the six-month trend measure “as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of Canada’s housing market.”  See CMHC

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