Canadian housing starts numbers from the Canadian Mortgage and Housing Corp
- Prior was 252.2K (revised to 251.7K)
- Six month average 226.8K
- Multi-unit -22%
- Single-detached +4.7%
- Rural starts 18.8K
The data was out a few minutes early.
"Despite the variation in activity across the country, the national trend in housing starts held steady at its highest level since 2008," said Bob Dugan, CMHC's chief economist. "Total urban housing starts in 2017 were up 6.2% compared to 2016 due to the rise in apartment construction."
This report won't have an effect on the Bank of Canada decision next week. The BOC is already assuming a zero net contribution from housing in 2018.
