Housing starts down in October

The standalone monthly SAAR of housing starts was 183,604 units in October, according to the Canada Mortgage and Housing Corp., down from 197,355 in September. The SAAR of urban starts decreased to 164,683 in October, from 177,053 in September. The decline was concentrated in multiple urban starts, which decreased to 98,673 in October, while single-detached urban starts increased to 66,010 units. The decline in urban housing starts was observed in all five regions in October, with declines led by British Columbia and followed by Quebec, Atlantic Canada, the Prairies and Ontario.