UPDATE 2-Canada housing starts slow in November

Mon Dec 10, 2012 12:16pm EST
 
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* Urban starts plunge in Ontario, BC, Atlantic Canada

* National slowdown sharper than expected

* Confirms slowing trend in Canada housing market

* Weakest reading since November 2011

By Andrea Hopkins

TORONTO, Dec 10 (Reuters) - Canadian housing starts fell in November for both single- and multifamily homes, particularly in Ontario and British Columbia, Canada Mortgage and Housing Corp said on Monday in a report that adds to evidence of a slowdown.

The seasonally adjusted annualized rate of housing starts was 196,125 units in November, down from 203,487 in October and well below the high above 250,000 hit early in the year. It was the weakest reading since November, 2011.

The slowdown was sharper than expected, below the 201,200 forecast of analysts in a Reuters poll. The October figure was revised down from 204,107 units reported previously.

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