Canada’s housing starts rose 8% in October, six month trends is flat

By Canada Mortgage and Housing Corporation
Cision Newswire
November 18, 2024
Category: Finance & Economics
Region: Canada

OTTAWA — The six-month trend in housing starts was flat in October at 243,522 units. …The total monthly SAAR of housing starts for all areas in Canada increased 8% in October (240,761 units) compared to September (223,391 units), according CMHC. …”Actual year-to-date housing starts are similar to last year, but we continue to see higher activity in the Prairie provinces, Québec and the Atlantic provinces, while Ontario and British Columbia have seen declines in all housing types. The increases in the monthly SAAR in Toronto and Vancouver are a promising sign for Ontario and British Columbia, as they drove the national SAAR increase in October. Despite these results, we remain well below what is required to restore affordability in Canada’s urban centres.” said Bob Dugan, CMHC’s Chief Economist.

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