Canada Housing September 2020

Canada

Canada: Housing starts ease in September

October 8, 2020

Housing starts moderated to 208,980 units on a seasonally-adjusted annualized rate (SAAR) basis in September, according to the Canada Mortgage and Housing Corporation (CMHC), down from August’s bumper 261,547-unit reading. September’s abatement was driven by a sharp fall in multi-units, while single-detached urban starts increased robustly.



Meanwhile, the six-month average of housing starts in urban areas increased to 214,647 units in September from 212,609 units in August.

FocusEconomics Consensus Forecast participants, expect 169,400 housing starts in 2020, before rising to 183,400 units in 2021.


Author:, Economist

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