Canadian annualized rate of housing starts fell 13% in December: CMHC

Canadian housing starts fell 13 per cent in December compared with the previous month as groundbreaking decreased on multiple unit and single-family detached urban homes, data from the national housing agency showed on Thursday.

The seasonally adjusted annualized rate of housing starts fell to 231,468 units from a revised 267,140 units in November, the Canadian Mortgage and Housing Corporation (CMHC) said. Economists had expected starts to fall to 245,000.

 

For 2024, starts were up 2 per cent compared to 2023, helped by historically high rental construction levels.

 

 

 

This article was first reported by Reuters