The seasonally adjusted annual rates of housing starts in Canada fell 3 percent from a month earlier to 197,329 units in December 2019 compared to an upwardly revised 204,300 in November and missing market estimates of 210,000. It was the lowest reading since May, as urban starts decreased by 4 percent to 185,934 units and multiple urban starts fell by 5 percent to 138,049 units. Meanwhile, single-detached urban starts increased by 1 percent to 47,885 units. Rural starts were estimated at a seasonally adjusted annual rate of 11,395 units. Housing Starts in Canada averaged 186.18 Thousand units from 1977 until 2019, reaching an all time high of 291.60 Thousand units in March of 1978 and a record low of 90.70 Thousand units in August of 1982. source: Canada Mortgage And Housing Corporation
Housing Starts in Canada is expected to be 210.00 Thousand units by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Housing Starts in Canada to stand at 210.00 in 12 months time. In the long-term, the Canada Housing Starts is projected to trend around 200.70 Thousand units in 2020, according to our econometric models.