Canada housing starts fall in December

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CMHC/Fordaq
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The annual pace of housing starts in December fell compared with November, according to Canada Mortgage and Housing Corp.

The monthly seasonally adjusted annual rate of housing starts for all areas in Canada, excluding Kelowna, B.C., fell 12.2 per cent in December from November, CMHC said on Monday.

The December survey was not conducted in Kelowna due to the COVID-19 pandemic, but CMHC said Kelowna’s exclusion didn’t impact the overall trends for the month.

The annual pace of urban starts fell 12.8 per cent in December as urban starts of apartments, condos and other types of multiple-unit housing projects dropped 15.1 per cent. Single-detached urban starts fell 5.5 per cent.

Rural starts were estimated at a seasonally adjusted annual rate of 22,373 units.

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