The Canada Mortgage and Housing Corporation (CMHC) announced Monday that the seasonally adjusted annual rate of housing starts was 167,900 units in October, down 9.2 percent from 185,000 units in September.
"Housing starts in October moved lower due to a decrease in urban single starts in all areas, with the exception of Atlantic Canada," where urban starts increased by about 32 percent, commented Bob Dugan, Chief Economist at CMHC's Market Analysis Centre.
Single-family starts in urban locations fell 8 percent to 57,700 units, while urban multiple starts dropped 15 percent to 84, 700 units.
October's seasonally adjusted annual rate of urban starts decreased by 24.5 percent in Ontario, 16.9 percent in the Prairie Region, 9.1 percent British Columbia and 2.6 percent in Quebec.