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Canada Housing December 2021

Canada: Housing starts moderate notably in December, but remain healthy nonetheless

Housing starts eased to 236,106 units on a seasonally-adjusted annualized rate (SAAR) basis in December according to the Canada Mortgage and Housing Corporation (CMHC), from November’s bumper 303,813-unit reading. December’s reading was driven by a sharp fall in multi-urban starts, while single-detached urban starts fell slightly.

Meanwhile, the six-month average of housing starts in urban areas dipped to 260,567 units in December from 267,606 units in November.

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