Sunday, August 24, 2025

Latest

Canadian Housing Starts Fell by 20% in September as Summer Rebound Slows Down

As the economy transitions into the fall and winter season, there has been a consensus among economists that output will likely decline from its optimistic summer highs. Indeed, Canada’s construction sector, which has remained significantly resilient despite the recession, is beginning to succumb to downward economic pressures.

According to the latest data released by the Canada Mortgage and Housing Corp (CMHC), homebuilding across the country still continues to relatively remain strong, but in September housing starts plunged by an alarming 20% from the prior month. The seasonally adjusted annual rate (SAAR) of urban housing starts dropped from 261,547 units to 208,980 units in September, but still remained aligned with the average readings recorded in 2019.

However according Refinitiv, economists were anticipating an annual rate of 240,000 units for the month. The primary weakness in housing starts came from British Columbia and Ontario, which each saw housing starts fall by 26% and 31%, respectively. According to CMHC chief economist Bob Dugan, the pace of housing starts across Canada will likely continue declining towards the end of 2020 due to the continued negative impacts from COVID-19 on housing and economic indicators.


Information for this briefing was found via CMHC. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

G Mining Q2 Earnings: Costing Gone Wild

Aya Gold Q2 Earnings: Production Slips Amid Ramp Up

i-80 Gold Q2 Earnings: Better, But Not Great

Recommended

Emerita Resources Expands El Cura Drill Program By 10,000 Metres As Deposit Remains Open For Expansion

ESGold Signs MOU For Tailings Project In Colombia With Grades Up To 42 g/t Gold, 280 g/t Silver

Related News

Canada Housing Market Shows Recovery Signs as Sales Rise for Second Month

Canada’s housing market posted its second consecutive month of sales gains in June as inventory...

Friday, July 18, 2025, 10:40:00 AM

Canadian Housing Starts Jumped 3.2% in May

Canadian housing starts posted another slight increase in May, rising by an annual pace of...

Tuesday, June 15, 2021, 02:41:00 PM

The Now Penetrable Fortress: Six-Year Investigation Leads To Fraud Charges Against Founders

It might have taken six years but the Royal Canadian Mounted Police (RCMP) investigation of...

Wednesday, June 22, 2022, 11:15:00 AM

Canada Sees 500,000 Mortgage Deferral Requests; 10% of Big Bank Mortgages

This morning the Canadian Bankers Association announced there has been 500,000 requests for mortgage deferrals...

Friday, April 3, 2020, 09:39:25 AM

It’s A Coronavirus Economy, We’re All Just Planning In It

It’s been a few hours now since Canada’s Federal government announced a plan for $82...

Thursday, March 19, 2020, 09:00:29 AM