July 24th, 2024

CMHC reports annual pace of housing starts up in September

By The Canadian Press on October 18, 2023.

OTTAWA – Canada Mortgage and Housing Corp. says the annual pace of housing starts in September rose eight per cent compared with August.

The housing agency says the monthly seasonally adjusted annual rate of housing starts in September came in at 270,466 units, up from 250,383 in August.

The increase came as the annual pace of urban housing starts rose nine per cent to 250,766 in September.

The annual pace of multi-unit urban starts gained 10 per cent at 207,689, while the rate of single-detached urban starts increased three per cent to 43,077 in September.

The annual rate of rural starts was estimated at 19,700 units.

The six-month moving average of the monthly seasonally adjusted annual rate of housing starts in September was 254,006, up 3.9 per cent from 244,511 in August.

This report by The Canadian Press was first published Oct. 18, 2023.

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