Starting in November 2020, we will be moving our monthly housing starts data and news release from the 6th to 11th business day. This allows us to deliver a complete package of data all at once, rather than releasing preliminary data at an earlier date. October housing starts will be released at 8:15 ET on Tuesday, November 17, 2020.
National Housing Starts trend
The national trend in housing starts was largely unchanged in September at 214,647 units, up from 212,609 units in August 2020. Multi-family starts have been very volatile in recent months, partly reflecting the impact of COVID-19. High levels of multi-family starts in July and August were largely offset by lower levels in September, leaving the trend largely unchanged. This pattern was particularly evident in Ontario, including Toronto. We expect national starts to trend lower by the end of 2020 as a result of the negative impact of COVID-19 on economic and housing indicators.
Standalone Seasonally Adjusted Annual Rate (SAAR)
- The standalone monthly SAAR of housing starts for all areas in Canada was 208,980 units in September, a decrease of 20.1% from 261,547 units in August.
- The SAAR of urban starts decreased by 21.1% in September to 195,909 units.
- Multiple urban starts decreased by 27% to 146,005 units in September while single-detached urban starts increased by 3.4% to 49,904 units