Canada Housing November 2021


Canada: Housing starts surge to an eight-month in November

December 15, 2021

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.

FocusEconomics Consensus Forecast participants expect 256,700 housing starts in 2022, and an increase to 221,100 units in 2023.


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Canada Housing Chart

Canada Housing Starts November 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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