Annual gait of housing starts slowed to 201,973 in October, CMHC reports

Canada Mortgage and Housing Corp. says a annual gait of housing starts fell in Oct as a gait of new construction of apartment, townhouse, condo and other forms of multiple-unit housing projects slowed.

The inhabitant housing group says a seasonally practiced annual rate of housing starts final month slowed to 201,973 units in Oct compared with 221,135 in September.

Economists had approaching an annual gait of 221,200 for October, according to financial markets information organisation Refinitiv.

The decrease came as a gait of civic starts fell 9.0 per cent. Urban starts of multiple-unit housing projects fell 12.5 per cent to 139,518 units in October, while starts of single-detached civic homes rose 2.4 per cent to 49,786 units.

Rural starts were estimated during a seasonally practiced annual rate of 12,669 units.

The six-month relocating normal of a monthly seasonally practiced annual rate of housing starts was 218,598 in October, down from 223,276 in September.

Article source: https://www.cbc.ca/news/business/housing-starts-october-2019-1.5353014?cmp=rss