Canada Housing Starts Lowest in 7 Months

The seasonally adjusted annual rates of housing starts in Canada fell 3 percent from a month earlier to 197,329 units in December 2019 compared to an upwardly revised 204,300 in November and missing market estimates of 210,000. It was the lowest reading since May, as urban starts decreased by 4 percent to 185,934 units and multiple urban starts fell by 5 percent to 138,049 units. Meanwhile, single-detached urban starts increased by 1 percent to 47,885 units. Rural starts were estimated at a seasonally adjusted annual rate of 11,395 units.