“The monthly decrease in total housing starts posted in October was mostly due to a decrease in both single and multiple starts in urban centres in Quebec and the Prairies. Multiple starts also declined in many urban centres in Ontario, more than offsetting an increase in such starts in Toronto,” said Mathieu Laberge, Deputy Chief Economist at CMHC.
CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market. In some situations, analyzing only SAAR data can be misleading, as they are largely driven by the multiples segment of the markets which can be quite variable from one month to the next.
The seasonally adjusted annual rate of urban starts decreased by 10.1 per cent to 182,134 units in October. Urban singles starts decreased by 7.6 per cent in October to 62,402 units, while multiple urban starts decreased by 11.4 per cent to 119,732 units.
October’s seasonally adjusted annual rate of urban starts decreased in all regions in October, declining by 1.5 per cent in British Columbia, 6.4 per cent in Ontario, 12.3 per cent in the Prairies, 16.8 per cent in Atlantic Canada and 16.9 per cent in Quebec.
Rural starts2 were estimated at a seasonally adjusted annual rate of 21,973 units in October.
Preliminary Housing Starts data are also available in English and French at the following link: Preliminary Housing Starts Tables
As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.
Information on this release:
CMHC Media Relations
|Canada||October 2011||October 2012|
|Actual, all areas||18,840||17,507|
|Actual, rural areas||1,972||1,895|
|Actual, urban centres 1|
|October — Single-Detached||5,798||5,387|
|October — Multiples||11,070||10,225|
|October — Total||16,868||15,612|
|January to Oct. — Single-Detached||55,295||55,863|
|January to October — Multiples||88,911||106,236|
|January to October — Total||144,206||162,099|
|September 2012||October 2012|
|SAAR2 , all areas||223,995||204,107|
|SAAR, rural areas||21,410||21,973|
|SAAR, urban centres1|
|Atlantic region, urban centres||14,933||12,429|
|Quebec, urban centres||41,810||34,741|
|Ontario, urban centres||70,240||65,723|
|Prairie region, urban centres||48,418||42,453|
|British Columbia, urban centres||27,184||26,788|
1 Urban centres with a population of 10,000 and over.
2 Seasonally Adjusted at Annual Rates
Detailed data available upon request.