December 8, 2010
The Canadian Mortgage and Housing Corporation reported today that housing starts jumped up in November. The seasonally adjusted annual rate of housing starts was 187,200 units in November – up from the seasonally adjusted annual rate of 167,800 in October. The numbers surpassed most analysts’ expectations– they projected housing starts to reach 170,000. Not so, oh clever economists, not so.
CMHC attributes the gain to a surge in urban multiple starts – apartments, condos and the like – in the Toronto area.
But Ontario’s strong showing masks a mixed picture across other regions of Canada. The prairies largely held their own, but urban starts were down significantly in Atlantic Canada, British Columbia and Quebec.
Click on the graphic for some context
To get the numbers straight from the horse’s mouth, as they say, click here.