OTTAWA, Nov. 8 (UPI) -- Housing starts in Canada rose modestly in October compared to September, the Canadian Mortgage and Housing Corp. said Friday.
The trend in housing starts, a six-month rolling average on a seasonally adjusted annual basis, rose to 195,338 in October. In September, the rolling average was 191,557.
The stand alone 12-month annual rate for July, seasonally adjusted, was 198,282, up modestly from the 193,637 mark from September, national housing agency said.
Urban area housing starts rose to 177,434 from 177,240 in September -- essentially unchanged, the report said. Urban housing starts that included multiple-unit urban projects rose by 0.9 percent to 115,011, while single-family urban project starts decreased by 1.7 percent to 62,423 in the month.
"The trend in total housing starts has gained momentum since July, which is in line with expectations that new construction would strengthen over the second half of 2013," said Mathieu Laberge, deputy chief economist at CMHC.
"Gains since July have been broad-based, reflecting increased activity in large and small urban centers, particularly in Ontario and, to some extent, in British Columbia," he said noting that housing starts for the year were within the projected range for the year, which was expected to be between 179,300 and 190,600 units.
