The trend measure of housing starts was little changed last month, CMHC reported.
The six-month moving average was 199,135 units compared to 199,641 in October while the standalone monthly seasonally-adjusted annual rate for November was 183,989, down from 192,297 a month earlier.
“Housing starts kept a steady pace in November as upward trends observed in British Columbia and the Prairies offset downward trends recorded in Ontario, Quebec and the Atlantic provinces,” said Bob Dugan, CMHC Chief Economist. “We’re also seeing that housing starts are on track to have moderated in 2016 compared to 2015 in most centres where we detected overbuilding.”
Housing starts decreased in Ontario, Quebec and in Atlantic Canada, but increased in British Columbia and in the Prairies.
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