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Canada Housing September 2020

Canada: Housing starts ease in September

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.

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