The national trend in housing starts was essentially unchanged in November, reflecting slight increases in the national trends of both multi-family and single-detached starts. Vancouver saw a significant decline in the trend of multi-unit starts for a second consecutive month in November, following a period of elevated construction activity earlier in the year. However, this decline was offset by modest gains in the multi-unit trend in most other major markets, including Toronto.
The trend in housing starts was 219,047 units in November 2019, compared to 218,253 units in October 2019, according to Canada Mortgage and Housing Corporation (CMHC). This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
The standalone monthly SAAR of housing starts for all areas in Canada was 201,318 units in November, a slight increase of 0.3% from 200,674 units in October. The SAAR of urban starts increased by 0.4% in November to 188,559 units. Multiple urban starts increased by 2.3% to 141,753 units in November while single-detached urban starts decreased by 5.1% to 46,806 units.
Rural starts were estimated at a seasonally adjusted annual rate of 12,759 units.