CMHC reports annual pace of housing starts up in September

Canada Mortgage and Housing Corp. says the annual pace of housing starts in September rose 8% compared with August.

The housing agency says the monthly seasonally adjusted annual rate of housing starts in September came in at 270,466 units, up from 250,383 in August.

The increase came as the annual pace of urban housing starts rose 9% to 250,766 in September.

The annual pace of multi-unit urban starts gained 10% at 207,689, while the rate of single-detached urban starts increased 3% to 43,077 in September.

The annual rate of rural starts was estimated at 19,700 units.

The six-month moving average of the monthly seasonally adjusted annual rate of housing starts in September was 254,006, up 3.9% from 244,511 in August.

The Canadian Press

The Canadian Press is a national news agency headquartered in Toronto and founded in 1917.