Dec 08, 2015
By Michael Kramer
The rate of housing starts in November – showed a faster pace than economists expected – with the seasonally adjusted rate picking up speed from October.
Canada Mortgage and Housing Corporation says the yearly numbers increased to 211,916 units in November – compared with 197,712 units in October.
Economists expected 197,300 – according to Thomson Reuters.
The rate of urban starts increased by 7.7 per cent in November to 195,121, boosted by a gain in multi-unit starts which increased by 13.2 per cent to 137,898. Single-detached urban starts fell 3.6 per cent to 57,223 units.
Estimates showed rural starts seasonally adjusted to an annual rate of 16,795 units.