Canada housing starts slow in October: CMHC

Tue Nov 8, 2016 8:30am EST
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OTTAWA (Reuters) - Canadian housing starts slowed in October as condo construction pulled back after a surge in September, data from the national housing agency showed on Tuesday.

The seasonally adjusted annualized rate of housing starts fell to 192,928 units in October, roughly in line with expectations, from a revised 219,363 rate in September. Multiple urban starts - typically condos and apartments - fell 15.3 percent to 115,402 units, while single-detached urban starts notched a milder 5.4 percent decline to 60,729 units.

(Reporting by Andrea Hopkins)

A sign advertises a condominium development on a lot in Toronto, Ontario, Canada October 3, 2016. REUTERS/Chris Helgren