Canada housing starts bounce back in February

Fri Mar 8, 2013 8:21am EST
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TORONTO, March 8 (Reuters) - Canadian housing starts bounced back in February as multi-family construction rebounded in Ontario and Quebec, Canada Mortgage and Housing Corp said on Friday in a report that nevertheless showed the housing market is continuing to moderate.

The seasonally adjusted annualized rate of housing starts was 180,719 units in February, up from 158,998 in January. The January figure was revised down from the 160,577 units reported previously.

The number of starts in February was slightly above the forecasts of analysts in a Reuters poll, who had expected 175,000 starts.