Economic Indicators

Canadian housing starts rise less than expected in September

3 hours ago

Less than a minute

2024.10.16 09:13

© Reuters. Houses are seen under construction in a neighbourhood of Ottawa, Ontario, Canada April 17, 2023. REUTERS/Lars Hagberg/File Photo

TORONTO (Reuters) – Canadian housing starts rose 5% in September compared with the previous month as groundbreaking increased on multi-unit and single-family-detached urban homes, data from the national housing agency showed on Wednesday.

The seasonally adjusted annualized rate of housing starts rose to 223,808 units from a revised 213,012 units in August, the Canadian Mortgage and Housing Corporation said. Economists had expected starts to rise to 237,500 units.

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