HomeBusinessAnnual rate of housing starts slowed in October: CMHC

Annual rate of housing starts slowed in October: CMHC

OTTAWA –


Canada Mortgage and Housing Corp. says the annual tempo of housing starts slowed in October from its excessive for the yr reached in September.


The nationwide housing company says the seasonally adjusted annual rate of housing starts in October was 267,055 items, down 11 per cent from 298,811 items in September.


The annual tempo of city starts was down 11 per cent at 245,234 items in October as multi-unit city starts fell 13 per cent to 188,189 items. Urban starts of single-detached properties dropped 4 per cent to 57,045 items.


CMHC says the annual tempo of starts was down in Toronto and Vancouver, nevertheless Montreal posted a rise.


Rural starts have been estimated at a seasonally adjusted annual rate of 21,821.


The six-month shifting common of the month-to-month seasonally adjusted annual rate was 277,667 items in October, up 0.5 per cent from 276,374 in September.


This report by The Canadian Press was first revealed Nov. 16, 2022.

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