Housing starts rise from last month, up eight per cent in November: CMHC
Posted Dec 16, 2024 10:27:42 AM.
OTTAWA — Canada Mortgage and Housing Corp. says the annual pace of housing starts in November rose eight per cent compared with October, helped by strength in multi-unit starts in Quebec, Alberta and B.C.
The national housing agency says the seasonally adjusted annual rate of housing starts came in at 262,443 units in November, up from 242,207 in October.
The increase came as the annual pace of urban starts rose nine per cent to 245,083 in November compared with 224,492 in October.
The annual pace of multi-unit urban starts, such as apartments, condominiums and townhouses, rose 11 per cent to 195,281, while the annual pace of single-detached urban starts increased four per cent to 49,802 units.
The annual pace of rural starts were estimated at 17,360 units.
CMHC says the six-month moving average of the seasonally adjusted annual rate of housing starts was down 0.3 per cent at 243,268 units in November.
This report by The Canadian Press was first published Dec. 16, 2024.
The Canadian Press
