OTTAWA, ON -- Canadian housing starts inched upward in January, reaching the seasonally adjusted annual rate of 170,400 units, according to Canada Mortgage and Housing Corporation (CMHC).

Housing starts increased 0.8% from 169,000 units in December 2010.

According to final figures released by CMHC, actual housing starts for 2010 totalled 189,930 units.

The seasonally adjusted annual rate of urban starts decreased by 1.7% to 146,900 units in January. Urban multiple starts moderated by 1.5% in January to 82,900 units, while single urban starts moved lower by 2.0% to 64,000 units.

Read Canada Mortgage and Housing Corp.'s January housing start report.

Posted by Rich Christianson

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