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- Canadian housing starts kept a steady pace in November
Canadian housing starts kept a steady pace in November
The trend measure of housing starts in Canada was 199,135 units in November compared to 199,641 in October, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
"Housing starts kept a steady pace in November as upward trends observed in British Columbia and the Prairies offset downward trends recorded in Ontario, Quebec and the Atlantic provinces," said Bob Dugan, CMHC Chief Economist. "We're also seeing that housing starts are on track to have moderated in 2016 compared to 2015 in most centres where we detected overbuilding."
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