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Canada Mortgage and Housing Corp. says pace of housing starts slowed in October

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Canada Mortgage and Housing Corp. says the annual pace of housing starts in October fell compared with September.

The national housing agency says the seasonally adjusted annual rate of housing starts was 236,554 last month, down from 249,922 in September.

The annual pace of urban starts fell 3.7 per cent to 214,797 as starts of apartments, condos and other types of multiple-unit housing projects dropped 5.3 per cent to 156,781.

The annual rate of single-detached urban starts rose one per cent to 58,016.

CMHC estimated the annual rate of rural starts at 21,757.

The six-month moving average of the monthly seasonally adjusted annual rates of housing starts was 264,264 in October, down from 270,661 in September.

This report by The Canadian Press was first published Nov. 16, 2021

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