Canada Housing October 2021

Canada

Canada: Housing starts moderate for the sixth consecutive month in October

November 16, 2021

Housing starts fell to 236,554 units on a seasonally-adjusted annualized rate (SAAR) basis in October according to the Canada Mortgage and Housing Corporation (CMHC), from September’s 249,922-unit reading. October’s slight fall was driven by a dip in multi-urban starts over the previous month.

Meanwhile, the six-month average of housing starts in urban areas fell to 264,264 units in October from 270,661 units in September.

FocusEconomics Consensus Forecast participants expect 256,700 housing starts in 2022, and an increase to 221,100 units in 2023.


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Canada Housing Starts October 2021

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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