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- Canada’s housing starts increase less than forecast in October
Canada’s housing starts increase less than forecast in October
The Canada
Mortgage and Housing Corp. (CMHC) reported on Tuesday the seasonally adjusted
annual rate of housing starts was at 214,875 units in October, up 3.0 percent
from a downwardly revised 208,715 units in September (originally 208,980 units).
Economists had
forecast an annual pace of 222,000 for October.
According to the report, urban starts rose by 3.5
percent m-o-m last month to 202,584 units, as single-detached urban starts surged
by 14.3 percent m-o-m 57,788 units, while multiple urban starts fell by a marginal
0.2 percent
m-o-m to 144,796 units. At the same time, rural starts were estimated at a
seasonally adjusted annual rate of 12,291 units.
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