Multiple Urban Lead Housing Start Gains

The trend in housing starts was 231,491 units in November 2020, up from 222,989 units in October 2020, says Canada Mortgage and Housing Corporation (CMHC). The standalone monthly seasonally adjusted annual rate (SAAR) of housing starts for all areas in Canada was 246,033 units in November, an increase of 14.4 per cent from 215,134 units in October. The SAAR of urban starts increased by 15 per cent in November to 233,106 units. Multiple urban starts increased by 22.5 per cent to 177,661 units in November while single-detached urban starts decreased by 3.8 per cent to 55,445 units. Rural starts were estimated at a seasonally adjusted annual rate of 12,927 units.