Canada: Housing starts rise to seven-month high
December 8, 2014
Seasonally-adjusted annualized housing starts registered 195,600 units in November, according to the government-owned Canada Mortgage and Housing Corporation (CMHC). The figure marked a 6.5% increase over October’s 183,700 units and slightly overshot market expectations of 195,000 units. The increase was driven largely by an increase in multiple urban starts.
The six-month moving average recorded zero growth over the previous month, stabilizing in November at October’s 195,800 . The CMHC commented that, “this is in line with our expectations for 2014, of a stable national picture with new home building concentrated in multiple starts.”