The seasonally adjusted annual rate1 of housing starts was 238,200 in November, up from 225,000 in October, Canada Mortgage and Housing Corp. (CMHC) said today.

“Residential construction activity remained strong in November with housing starts coming in above the 200,000 level for an eighteenth consecutive month. New construction continues to respond to sustained demand for housing which is the result of continued strength in the Canadian economy,: said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “Housing starts remain on track to reach a 17-year high in 2004.”

November housing starts in Canada’s urban centres increased 6.7% to a seasonally adjusted annual rate of 209,700 units. Urban single detached starts fell by 2.8% to 99,300 units in November while the volatile urban multiple starts increased 17.1% to 110,400.

Urban housing starts in November increased in every region except Ontario and the Atlantic where the seasonally adjusted annual rate of starts decreased 2.9% and 11.0%, respectively.

Urban housing starts in November increased in British Columbia by 32.0%, in the Prairie region by 6.1% and in Quebec by 13.2%.

The estimated number of seasonally adjusted annualized starts in Canada’s rural areas was 28,500 units.

For the first 11 months of this year, actual urban starts increased 5.9% compared with the same period last year. Single starts rose 3.5% and multiple starts are up 8.6%.