OTTAWA — The seasonally adjusted annual rate of housing starts reached 174,500 units in December 2009.
This is an increase from an annual rate of 164,800 units in November, according to Canada Mortgage and Housing Corp. Actual housing starts for 2009 are being verified and will be reported in the January edition of Monthly Housing Statistics. They are expected to be lower due to low monthly rates earlier in the year.
“The improvement in housing starts was broad based in December,” said Bob Dugan, chief economist at CMHC’s Market Analysis Centre. “Solid increases occurred in both single and multiple starts to end the year.”
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