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Canada’s annual pace of housing starts slowed in December, CMHC reports

January 9, 2018 5:08 PM
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The national housing agency says the seasonally adjusted rate for the month came in at 216,980 units, down from 251,675 units in November.

OTTAWA—Canada Mortgage and Housing Corp. says the annual pace of housing starts slowed in December.

The national housing agency says the seasonally adjusted annual rate for the last month of 2017 came in at 216,980 units, down from 251,675 units in November.

The decline came as the annual pace of urban starts fell 15.1 per cent in December to 198,132 units.

The pace of multi-unit urban starts slowed 22 per cent to 135,176, while the rate of single-detached urban starts increased by 4.7 per cent to 62,956 units.

Rural starts were estimated at a seasonally adjusted annual rate of 18,848 units.

Also read: TSX moves higher, Canadian dollar down after Bank of Canada interest rate hike

Source: thestar.com

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