Housing Starts Edge Higher in October According to CMHC

Housing starts in Ontario have increased to 205,925 units according to the latest report published by CMHC (Canadian Mortgage and Housing Corporation).

Economist had expected 200,000 units start in October but we saw an additional 5,925 units. The largest increase in housing starts was in the urban core which climbed 8.6% in October 2018 compared to the same period last year.

Single family urban starts have fallen as land increases in price builders are choosing to built condominiums, apartments and townhomes instead. This last segment saw an increase of 16.8% over October of last year.

Looking to purchase or sell real estate in Ottawa, Ontario? Call real estate broker, Roch St-Georges to discuss your real estate needs. 613-889-7732