CMHC reports annual pace of housing starts dropped 17 per cent in October
Construct Connect Canada
AI Article Summary
The Canada Mortgage and Housing Corp. (CMHC) reported a 17% decline in the annual pace of housing starts in October compared to September. The seasonally adjusted annual rate of housing starts was 232,765 units in October, down from 279,174 in September. This marks a significant drop in housing activity.
What This Means for Canadian Contractors
For Canadian builders, this means potential delays in project timelines and adjustments in planning due to reduced housing starts. Construction firms may face lower demand for building materials and labor. On the positive side, this slowdown could present opportunities for builders to focus on efficiencies and cost-effective practices.
