Pace of housing starts surges 11% amid concerns of supply shortage

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Canada’s annual rate of housing starts jumped 11 per cent to 299,589 units in September from 267,443 in August, reaching its highest monthly level since November 2021.

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Data from the Canada Mortgage and Housing Corporation released on Tuesday showed the rate of urban starts increased 12 per cent to 276,142 in the month while multi-unit urban starts surged 16 per cent to 216,549 units. The pace of urban starts of single-detached homes remained flat at 59,593 units.

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