FLCA - Canada's Housing Starts Fall In September The Longest Losing Streak Since December 2019
- Housing starts declined 4.4% month over month (m/m) to 251,151 units (annualized).
- All housing starts segments fell as urban single and multiple starts decreased 5.9% m/m and 4.0% m/m, respectively. Rural starts decreased 4.0% m/m.
- Starts dropped in half of the provinces, led by British Columbia, Ontario, and Alberta.
- While the declining trend was in line with our expectation, third-quarter housing starts average was less than the IHS Markit October forecast. Starts are expected to remain at a firm level in the fourth quarter.
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Canada's Housing Starts Fall In September, The Longest Losing Streak Since December 2019