Housing starts declined 17% in October, CMHC says – National
Housing starts in Canada appear to be slowing down, according to the latest data.
The Canada Mortgage and Housing Corporation reported on Tuesday that the annualized rate of housing starts fell 17 per cent in October compared with September of this year.Data from the same time period last year showed housing starts increased eight per cent from September to October 2024.Last month saw construction begin on 232,765 units compared with 279,174 units in September, according to the CMHC.A housing start is defined by the CMHC as the beginning of construction on a building where a dwelling unit will be located, and begins officially when the concrete has been poured for the footing of the structure, or an equivalent stage if there is no basement. Story continues below advertisement
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