Canadian Housing Starts Climb 8.0% in November

On Monday, Canada Mortgage and Housing Corporation (CMHC) reported that the seasonally adjusted annual rate (SAAR) of housing starts was up 8.0% in November at 262,443 units.

The six-month trend in housing starts was 0.3% lower in November at 243,268 units. The trend measure is a six-month moving average of the SAAR of total housing starts for all areas in Canada.

The monthly SAAR of housing starts in urban centers (10,000 population and over) was 9% higher at 245,083 units. Multi-unit urban starts increased 11% to 195,281 units, while single-detached urban starts increased 4% to 49,802 units. The rural starts monthly SAAR estimate was 17,360 units.