Housing Starts Have Solid Increase

The standalone monthly seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada was at the highest since November 2021 (305,889 units) in September, with 299,589 units, up 11 per cent from August, says Canada Mortgage and Housing Corporation (CMHC). The SAAR of total urban starts increased 12 per cent to 276,142 units in September. Multi-unit urban starts increased 16 per cent to 216,549 units, while single-detached urban starts were flat at 59,593 units. Rural starts were estimated at a seasonally adjusted annual rate of 23,447 units.