Housing starts in Canada trended downward to 218,392 units annually in October, according to new data from the Canada Mortgage and Housing Corp. (CMHC).
The seasonally adjusted annual rate of urban starts decreased by 10.1% to 182,134 units in October. Urban singles starts decreased by 7.6% in October to 62,402 units, while multiple urban starts decreased by 11.4% to 119,732 units.
October's seasonally adjusted annual rate of urban starts decreased in all regions in October, declining by 1.5% in British Columbia, 6.4% in Ontario, 12.3% in the Prairies, 16.8% in Atlantic Canada and 16.9% in Quebec. Rural starts were estimated at a seasonally adjusted annual rate of 21,973 units in October.