The seasonally adjusted annual rate1 of housing starts was 278,200 units in September, up 19.6 per cent from 232,700 units in August, according to Canada Mortgage and Housing Corporation (CMHC).
The rise in September housing starts reflects a strong multiple starts segment? said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. In particular, the robust results achieved this month can be mostly attributed to increased condominium starts, which reflect strong condo sales over the past 12 to 24 months. Despite this sizeable growth in September, we continue to expect that housing starts will decrease gradually between now and the end of 2008? Read More
