Canadian housing starts see surprise decline in December: CMHC

[January 09, 2020]   TORONTO (Reuters) - Canadian housing starts unexpectedly fell in December compared with the previous month as groundbreaking decreased on multiple unit homes, data from the national housing agency showed on Thursday.

The seasonally adjusted annualized rate of housing starts fell 3% to 197,329 units from a revised 204,320 units in November, the Canadian Mortgage and Housing Corporation (CMHC) said. Economists had expected starts to rise to 210,000.

(Reporting by Fergal Smith; Editing by Bernadette Baum)

[© 2020 Thomson Reuters. All rights reserved.]

Copyright 2020 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.  Thompson Reuters is solely responsible for this content.