Canadian Housing Starts Down in November Dec 11, 2012

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Canada Mortgage and Housing Corporation (CMHC) data showed November 2012 housing starts in Canada trending at 214,680 units annually. The trend is a six-month moving average of the seasonally adjusted annual rates (SAAR) of housing starts.

November's standalone monthly SAAR was 196,125 units, down from October's 203,487 units.

Nationwide, the urban starts SAAR was down 4.0% to 174,323 units in November. Urban single-family home starts were down 5.4% to 58,606 units, while urban multi-family dwellings fell 3.2% to 115,717 units.

November 2012 rural starts were estimated at a SAAR of 21,802 units.

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