Annual pace of housing starts accelerates in October

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Rural starts, meanwhile, came in at an estimated annual pace of 17,324 in October, the national housing agency said.

Vancouver posted a big increase in its annual starts pace, which rose by 35% thanks to a sizeable uptick in multi-unit starts. That faster clip was counteracted by notable declines in Montreal and Toronto: the annual pace of starts in the former plunged by 43% last month, while Toronto recorded a 24% drop.

The six-month moving average of the monthly seasonally adjusted annual rate of starts in October was 256,280, CMHC said, up by 1% compared with September’s total of 253,957.

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