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Annual pace of housing starts on the rise

Original Source: The Canadian Press

Canada Mortgage and Housing Corp. says the annual pace of housing starts in September rose to the highest level since November 2021.

The national housing agency says the seasonally adjusted annual rate of housing starts for September was 299,589 units, up 11% from 270,397 in August.

The increase came as the annual pace of urban starts rose 12% to 276,142 in September.

The rate of multi-unit urban starts gained 16% at 216,549, while the pace of single-detached urban starts was flat at 59,593.

Rural starts were estimated at a seasonally adjusted annual rate of 23,447.

The six-month moving average of the monthly seasonally adjusted annual rates of housing starts was 276,682 in September, up 3% from 267,813 in August.

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