Pace of housing starts slowed in December: CMHC

OTTAWA – Canada Mortgage and Housing Corp. says the pace of housing starts slowed slightly in December, compared with the previous month.

The agency says there were 16,352 actual starts in December, which put the country on a pace to build 197,976 housing units on an annual basis.

That was down slightly from 201,376 in November but still higher than the 195,000 that economists had expected.

The seasonally adjusted annual rate of urban starts slipped 0.1 per cent in December to 178,870 units, with single starts up 8.6 per cent to 67,419 units and multiple starts down 4.7 per cent to 111,451 units.

Urban starts fell in the Prairies,Quebec and British Columbia, increased in Ontario and were relatively unchanged in Atlantic Canada.

Rural starts were estimated at a seasonally adjusted annual rate of 19,106 units.

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