Canada: Housing starts bounce back in November
November 9, 2010
The Canadian housing market rebounded in November, rising for the first time in four months. According to the government-owned Canada Mortgage and Housing Corporation (CMHC), seasonally adjusted annualised housing starts reached 187,200 in November, up 11.6% from a revised 167,800 in October (previously reported: 167,900 units). The figure exceeded market expectations of 173,000 units and marked the largest housing starts growth rate since October 2009. The CMHC estimates housing starts to total 174,800 units in 2011.