Canada: Housing starts surge to an eight-month in November
Housing starts jumped to 301,279 units on a seasonally-adjusted annualized rate (SAAR) basis in November according to the Canada Mortgage and Housing Corporation (CMHC), from October’s 238,366-unit reading. November’s reading marked the strongest reading since March, and was driven by a surge in multi-urban starts, which was up an astounding 41% over the previous month.
Meanwhile, the six-month average of housing starts in urban areas rose to 267,365 units in November from 264,583 units in October.