Canadian housing starts slow in December

Wed Jan 9, 2013 8:21am EST
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TORONTO Jan 9 (Reuters) - Canadian housing starts slowed in December, but not as sharply as expected, as rural starts declined but urban starts held steady, Canada Mortgage and Housing Corp said on Wednesday in a report that confirmed a housing market slowdown is underway.

The seasonally adjusted annualized rate of housing starts was 197,976 units in December, down slightly from 201,376 units in November. The November figure was revised up from the 196,125 units reported previously.

The number of starts in December was above the forecasts of analysts in a Reuters poll, who had expected 195,000 starts.