Canada: Housing starts recover somewhat in October
November 8, 2018
Housing starts on a seasonally-adjusted annualized (SAAR) basis climbed to 205,900 units in October, according to the Canada Mortgage and Housing Corporation (CMHC). October’s print bounced back from a 189,700-unit reading in September, surpassing the symbolic 200,000-unit threshold once again. The result was driven mainly by a rise in urban multi-unit starts, which offset a decline in single-detached starts compared to the previous month.
Meanwhile, the six-month moving average of housing starts (SAAR) inched down yet again in October, falling to 206,200 units from 207,800 units a month earlier.
Author: Steven Burke, Economist