Housing Starts Rise

The trend in housing starts was 244,963 units in January 2021, up from 238,747 units in December 2020, says the CMHC's monthly ‘Starts and Completions Survey (SCS).’ Both single- and multi-family SAAR (seasonally adjusted annual rates) of housing starts rebounded strongly in January from declines in December, driving the overall trend higher. Single-family starts were particularly strong in Montréal, reaching their highest level since February 2008." The standalone monthly SAAR of housing starts for all areas in Canada was 282,428 units in January, an increase of 23.1 per cent from December. Multiple urban starts increased by 23.9 per cent to 192,956 units in January while single-detached urban starts increased by 36.8 per cent to 72,882 units.