Canadian housing starts rise 8% in October

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November 18, 2024 8:27 AM EST

FILE PHOTO: A for sale sign is displayed outside a home in Toronto, Ontario in Toronto, Ontario, Canada December 13, 2021. REUTERS/Carlos Osorio/File photo

OTTAWA (Reuters) - Canadian housing starts in October rose by 8% versus the previous month as groundbreaking increased on multi-unit and single-family detached homes, data from the national housing agency showed on Monday.

The seasonally adjusted annualized rate of housing starts rose to 240,761 units from a marginally revised 223,391 in September, the Canadian Mortgage and Housing Corporation said.

Economists expected the number to rise to 240,000 units in October.

(Reporting by Ismail Shakil in Ottawa; editing by Jason Neely)


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