Annual pace of housing starts in October rose 1 per cent from September, CMHC says

Canada Mortgage and Housing Corp. says the annual pace of housing starts for October ticked up from September.

The national housing agency says the seasonally adjusted annual rate of housing starts in October came in at 274,681, up one per cent from 270,669 in September.

 

 

The increase came as the pace of urban housing starts rose two per cent to 257,357 units, with multi-unit urban starts up one per cent at 209,887 and single-detached urban starts up nine per cent at 47,470.

CMHC says the annual pace of housing starts in Montreal fell 43 cent and Toronto saw a 24 per cent decline, while the pace of starts in Vancouver rose 35 per cent, boosted by a 40 per cent increase in multi-unit starts.

The annual pace of rural starts for October was estimated at 17,324.

The six-month moving average of the monthly seasonally adjusted annual rate of housing starts in October was 256,280, up one per cent from 253,957 in September.

 

 

This  article was  first reported by The Canadian Press