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.
Author: Steven Burke, Economist