Canadian housing starts decline month-on-month, but hold steady in six-month average

Tuesday, 08 November 2016 23:25:25 (GMT+3)   |   San Diego
       

The standalone monthly seasonally adjusted annual rates (SAAR) of housing start for all areas in Canada was 192,928 units in October, down from 219,363 units in September.  In October, specifically, the SAAR of urban starts decreased by 12.1 percent, urban starts decreased by 15.3 percent, and single-detached urban starts decreased by 5.4 percent.

The trend measure of housing starts in Canada, however, was 199,920 units in October compared to 199,262 in September, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly SSAR.

The CHMC Chief Economist commented, “While apartment starts are on a downward trend in the British Colombia area after reaching an all-time high at the beginning of the year, increased construction of single, semi-detached and row units in the rest of the country have helped offset the decline.” 


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