Canada Housing October 2020

Canada

Canada: Housing starts increase in October

November 9, 2020

Housing starts rose to 214,875 units on a seasonally-adjusted annualized rate (SAAR) basis in October, according to the Canada Mortgage and Housing Corporation (CMHC), up from September’s 208,715-unit reading. October’s improvement was driven by a continued rise in single-detached urban starts, while multi-units moderated in the month.

Meanwhile, the six-month average of housing starts in urban areas increased to 222,734 units in October from 214,372 units in September.

FocusEconomics Consensus Forecast participants, expect 210,900 housing starts in 2021, before dropping to 196,800 units in 2022.


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Canada Housing Starts October 20 20 0

Note: Monthly housing starts and six-month trend in monthly housing starts, both at seasonally-adjusted annualized rate.
Source: Canada Mortgage and Housing Corporation (CMHC).


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