Canadian housing starts up 0.8 per cent in January: CMHC
Canadian housing starts rose 0.8 per cent in January to a seasonally adjusted annualized rate of 170,400 units from a revised 169,000 units in December, Canada Mortgage and Housing Corp said on Tuesday.
The number of starts were a touch below the median expectation of analysts, who had called for 171,500 starts. December starts were revised down from 171,500 units.
The seasonally adjusted annual rate of urban starts decreased by 1.7 per cent to 146,900 units in January. New home construction fell most steeply in the Prairie region, down 19 per cent, and increased most in Ontario, up 10.3 per cent.
Rural starts were estimated at a seasonally adjusted annual rate of 23,500 units in January.
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