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There was only 3.5 months of housing inventory in November, far lower than the usual five to six months’ worth of supply.
Homebuilding in Canada took a sharp turn lower in February as housing starts fell 16.4 percent month-over-month.
The pace of housing starts in Canada picked up slightly in September as work began on more multiple-unit dwellings including condominiums, Canada Mortgage and Housing Corp. said Oct. 8.
The annual pace of housing starts in Canada slowed in August to 192,368 units, down from 199,813 in July, according to the Canada Mortgage and Housing Corp on Sept. 9.
The strengthening trend in the monthly indicators of housing starts, home sales, and house prices is clear. The overall housing market has defied forecasts and expectations of a cooling off from several months ago.
