Housing starts on the rise in October

OTTAWA — The seasonally adjusted annual rate of housing starts was 214,875 units in October, an increase of three percent from 208,715 units in September, Canada Mortgage and Housing Corp. reports. The SAAR of urban starts increased by 3.5 percent in October to 202,584 units. Multiple urban starts decreased by a slight 0.2 percent to 144,796 units in October while single-detached urban starts increased by 14.3 percent to 57,788 units. Rural starts were estimated at a SAAR of 12,291 units.