December 10, 2018 / 1:36 PM / 10 months ago

Canadian housing starts see surprise gain in November -CMHC

TORONTO, Dec 10 (Reuters) - Canadian housing starts surprisingly rose in November as groundbreaking on multiple unit urban homes increased 3.9 percent, offsetting a drop in single-detached urban starts, data from the national housing agency showed on Monday.

The seasonally adjusted annualized rate of housing starts increased to 215,941 units from a revised 206,753 units in October, the Canadian Mortgage and Housing Corporation (CMHC) said. Economists had expected starts to fall to 198,000. (Reporting by Fergal Smith)

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