UPDATE 1-Canadian housing starts fall slightly in November

Mon Dec 9, 2013 10:01am EST
 
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* Housing starts fall to 192,235 in November

* Six-month moving average dips to 194,014

* Urban multiple and single-detached starts fall

By Leah Schnurr

TORONTO, Dec 9 (Reuters) - New homebuilding in Canada slowed slightly in November, coming in below economists' expectations and suggesting some stabilization for the country's robust housing market, data released on Monday showed.

The seasonally adjusted annualized rate of housing starts was 192,235 units last month from a downwardly revised 198,161 in October, the Canada Mortgage and Housing Corp said.

That was short of analysts' expectations for 195,000. Housing starts in October were initially reported as 198,282.

Still, the longer-term trend fared better, with the six-month moving average of seasonally adjusted starts dipping only slightly to 194,014 units from 195,274.

Canada's housing market has shown resilience this year after a slowdown in the second half of 2012 when the federal government tightened mortgage rules due to concern consumers are taking on too much debt.   Continued...