(Source: Daily Commercial News)
New residential construction starts in the latest month, October 2009, were 157,000 units seasonally adjusted and annualized, according to Canada Mortgage and Housing Corporation. This was the best month of the year so far.
The past three months have all been much better than earlier this year. August through October has averaged 154,000 units annualized. Starts hit rock bottom in April at only 119,000 units. They have been on an upward trend ever since.
Read the full article by Alex Carrick, “Canadian housing starts had best month so far in October” at Daily Commercial News (Nov 19, 2009).