Canada housing starts from CHMC
- 251.2K prior revised to 249.9K
- multiple starts 163.18K vs 173.7K last month
- single detached starts 73.374K versus 76.225K last month
Bob Dugan, CMHC's chief economist said:
"The six month trend in housing starts decline from September to October, as the retreat in total starts from their earlier 2021 levels continued. For SAAR housing starts in Canada's urban areas a slight increase in single detached starts didn't offset a larger decrease in multifamily starts in October and led to a decline in the overall starts for the month. On a trend in monthly SAAR basis, however, the level housing starts activity in Canada remains high in historical terms."