Published on 10/18/2022 at 11:29 am
Rural housing starts were estimated at 23,447 units in seasonally adjusted annual data. (Photo: The Canadian Press)
OTTAWA — The annual pace of housing starts in September hit the highest level since November 2021, the Canada Mortgage and Housing Corporation (CMHC) said Tuesday.
The seasonally adjusted annual rate of housing starts for September was 299,589 units, up 11% from the 270,397 units recorded in August, the federal housing authority said.
The surge came as the annual pace of housing starts in urban centers rose 12% to 276,142 units in September.
Metropolitan multi-family housing starts increased 16% to 216,549, while metro single-family housing starts were flat at 59,593.
Rural housing starts were estimated at 23,447 units in seasonally adjusted annual data.
The six-month moving average of seasonally adjusted monthly annual housing starts was 276,682 units in September, up 3% from August’s 267,813 units.
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