OTTAWA, ON -- Canadian housing starts declined by 3.0% in August to a seasonally adjusted annual rate of 183,300, according to Canada Mortgage and Housing Corporation (CMHC).
In addition, CMHC revised the seasonally adjusted annual rate estimate of housing starts activity July from 189,200 units to 188,900 units.
“Housing starts moved lower in August, reflecting a decrease in both single and multiple starts,” said Bob Dugan, chief economist at CMHC’s Market Analysis Centre.
Read Canada Mortgage and Housing Corporation's press release.
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