March 8, 2019 / 1:28 PM / 7 months ago

Canadian housing starts tumble 16 pct in February -CMHC

TORONTO, March 8 (Reuters) - Canadian housing starts tumbled about 16 percent in February as groundbreaking on urban single-detached and multiple unit homes declined, data from the national housing agency showed on Friday.

The seasonally adjusted annualized rate of housing starts fell 16.3 percent to 173,153 units from a revised 206,809 units in January, the Canadian Mortgage and Housing Corporation (CMHC) said. Economists had expected starts to dip to 205,000. (Reporting by Fergal Smith Editing by Chizu Nomiyama)

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