January 9, 2019 / 1:39 PM / in 13 days

Canadian housing starts slip in December as multiples decline: CMHC

FILE PHOTO: A sign advertises a house for sale as Canada's central bank announced its first interest rate hike in nearly seven years, on a residential street in midtown Toronto, Ontario, Canada July 12, 2017. REUTERS/Chris Helgren

TORONTO (Reuters) - Canadian housing starts fell in December as groundbreaking on multiple unit urban homes fell 6.8 percent, while single-detached urban starts also lost ground, data from the national housing agency showed on Wednesday.

The seasonally adjusted annualized rate of housing starts fell to 213,419 units from an upwardly revised 224,349 units in November, the Canadian Mortgage and Housing Corporation (CMHC) said. Economists had expected starts to fall to 205,000 units.

Reporting by Fergal Smith

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