Canada: Housing starts surge in January
February 11, 2021
Housing starts rose to 282,428 units on a seasonally-adjusted annualized rate (SAAR) basis in January—the highest level since September 2007—according to the Canada Mortgage and Housing Corporation (CMHC), up from December’s 229,350-unit reading. January’s improvement was driven by a sharp rise in both multiple-detached and single-unit urban starts in the month.
Moreover, the six-month average of housing starts in urban areas increased from 238,747 units in December to 244,963 units in January.
Author: Steven Burke, Economist