Canadian housing starts see surprise decline in December: CMHC

FAN Editor 5 years ago
A real estate assembly of houses marked for demolition stand next to a billboard advertising a future condominium in Toronto
FILE PHOTO: A real estate assembly of houses marked for demolition stand next to a billboard advertising a future condominium to stand in their place, in Toronto, Ontario, Canada January 6, 2019. REUTERS/Chris Helgren

January 9, 2020

TORONTO (Reuters) – Canadian housing starts unexpectedly fell in December compared with the previous month as groundbreaking decreased on multiple unit homes, data from the national housing agency showed on Thursday.

The seasonally adjusted annualized rate of housing starts fell 3% to 197,329 units from a revised 204,320 units in November, the Canadian Mortgage and Housing Corporation (CMHC) said. Economists had expected starts to rise to 210,000.

(Reporting by Fergal Smith; Editing by Bernadette Baum)

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