Canada Dec housing starts 207.0K vs 190.0K expected

Author: Adam Button | Category: News

Canadian December housing starts data from the CMHC

  • Prior was 184.0K, revised to 187.3K
  • Rural +0.1% m/m
  • Urban +11.8% m/m
  • Detached homes +8.1% m/m
  • Multiples +13.9% m/m

At the bottom of the hour, Canadian building permits data from Statistics Canada is due up and expected to show a 6.0% decline in November. Given the strong number here, there is some upside risk.

"December saw multi-unit construction slow for the third consecutive month in Canada, leading housing starts to trend down," said Bob Dugan, CMHC Chief Economist in a press release. "However, 2016 still counted more home starts than 2015. Increased demand for single-detached homes more than offset the decline we're seeing in multi-unit construction - a decline that's in response to efforts to manage current inventories."