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Construction of single-detached homes fell by 4 per cent in October.
Construction of single-detached homes fell by 4 per cent in October. Photo by Michelle Berg/Postmedia

The pace of Canadian housing starts slowed in October, reversing a surge in the previous month.

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The data from the Canada Mortgage and Housing Corporation showed a decrease in the number of urban starts in October compared to the previous month. There were 57,045 urban starts of single-detached homes in September, compared to 59,593 in the previous month.

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  1. Canadian home sales edged up 1.3 per cent in October, the first monthly gain since February.
  2. None

The increase was driven by multi-unit activity. The national average was down due to the decline in starts in Toronto andVancouver.

The six-month trend in starts continued to move upward, hitting 277,667 units in October, up 1% from the prior month.

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  1. Chief Public Health Officer Dr. Theresa Tam attending a news conference in Ottawa.
  2. Canada's inflation rate was largely driven by higher gasoline prices and mortgage interest, Statistics Canada said on Wednesday.
  3. Headquartered at the Pentagon in Arlington, Virginia, the U.S. Department of Defense is having discussions with miners about the important role northern Ontario’s Ring of Fire region will play in producing the critical minerals needed by Canada and the U.S.
  4. John Graham, chief executive of Canada Pension Plan Investment Board (CPPIB), speaks during the Bloomberg New Economy Forum in Singapore, on Wednesday, Nov. 16, 2022.
  5. The CRA argued the taxpayer was not entitled to claim his lodging, food, beverage and automobile expenses related to travelling to his U.S. work location.

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