The Canada Mortgage and Housing Corp. (CMHC) reported on Tuesday the seasonally adjusted annual rate of housing starts was at 246,033 units in November, up 14.4 percent from an upwardly revised 215,134 units in October (originally 214,875 units).

Economists had forecast an annual pace of 215,000 for November.

According to the report, urban starts climbed by 15.0 percent m-o-m last month to 233,106 units, as multiple urban starts surged by 22.5 percent m-o-m to 177,661 units, while single-detached urban starts fell by 3.8 percent m-o-m 55,445 units. At the same time, rural starts were estimated at a seasonally adjusted annual rate of 12,927 units.