Housing Starts Flat In November

The standalone monthly seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada was flat in November, with a minor decline of 0.2 per cent (264,159 units) compared to October (264,581 units), says the Canada Mortgage and Housing Corporation (CMHC). The SAAR of total urban starts was also flat, with 242,644 units recorded in November. Multi-unit urban starts increased two per cent to 190,415 units, while single-detached urban starts fell seven per cent to 52,229 units. Rural starts were estimated at a seasonally adjusted annual rate of 21,515 units. The trend in housing starts was 274,361 units in November, down one per cent from 277,044 units in October. This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.