CMHC data shows upward trend in November housing starts

Canada Mortgage and Housing Corporation (CMHC) reports that housing starts for November 2020 rose to 231,491 units versus 222,989 units in October. The trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

Bob Dugan, CMHC’s chief economist attributes the increase to a rebound in multi-family SAAR starts following two consecutive declines. Multi-family starts were particularly strong in Vancouver and Montreal.

For more details, click here to download the November report.