Canada Housing January 2021

Canada

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.

FocusEconomics Consensus Forecast participants, expect 197,600 housing starts in 2021, before increasing to 207,500 units in 2022.


Author:, Economist

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Canada Housing Starts January 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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