Canadian Housing Starts See 5% Increase in September

The rise in housing starts is driven by growth in urban multi-unit and single-detached home projects.

The Canada Mortgage and Housing Corp. (CMHC) reported a seasonally adjusted annual rate of 223,808 housing starts in September, up from 213,012 in August.
Urban housing starts increased by 6%, reaching 210,002 units, with significant contributions from multi-unit projects such as apartments and condominiums.
Single-detached urban housing starts rose by 5%, totaling 46,602 units in September.
Rural housing starts were estimated at 13,806 units for the month.
The six-month moving average for housing starts decreased slightly to 243,759 units in September from 246,972 in August.