November 10, 2011
Canada Mortgage and Housing Corp. reports slight drop in housing starts
OTTAWA
October housing starts are down from the previous month, according Canada Mortgage and Housing Corporation (CMHC).
The seasonally adjusted annual rate of housing starts was 207,600 units in October, down from 208,800 units in September 2011.
The seasonally adjusted annual rate of urban starts decreased by 2.1 per cent to 184,500 units in October. Urban single starts decreased by nine per cent in October to 60,900 units, while multiple urban starts were up by 1.7 per cent to 123,600 units.
October’s seasonally adjusted annual rate of urban starts decreased by 43.5 per cent in the Atlantic region, and 28.8 per cent in Quebec, while urban starts increased by 1.5 per cent in British Columbia, by 11.7 per cent in Ontario, and by 28.2 per cent in the Prairie region.
Rural starts were estimated at a seasonally adjusted annual rate of 23,100 units in October.
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