The Canada Mortgage and Housing Corp. (CMHC) reported on Tuesday the seasonally adjusted annual rate of housing starts was at 214,875 units in October, up 3.0 percent from a downwardly revised 208,715 units in September (originally 208,980 units).

Economists had forecast an annual pace of 222,000 for October.

According to the report, urban starts rose by 3.5 percent m-o-m last month to 202,584 units, as single-detached urban starts surged by 14.3 percent m-o-m 57,788 units, while multiple urban starts fell by a marginal 0.2 percent m-o-m to 144,796 units. At the same time, rural starts were estimated at a seasonally adjusted annual rate of 12,291 units.