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Canadian housing starts down 22% from November to December

Posted on January 24, 2022   |  

  • The seasonally adjusted annual rate of housing starts was 236,106 units in December, down from 303,813 in November.
  • In December, new listings were down 15% to 28,550 from 33,606 of the last year.
  • The national average home price reached $713,500 in December, up 18% from December 2020, and in Toronto and Montreal markets price inflation exceeded the national average.
  • The annual rate of urban starts dropped 24% in December to 212,918 and rural starts were estimated at a seasonally adjusted annual rate of 23,188 units.
  • The annual rate of urban starts of apartments, condos, and other types of multiple-unit housing projects decreased 29% to 157,687, and the pace of urban starts of single-detached homes are down 4% to 55,231.