Canada: Housing starts moderate in January, but remain healthy nonetheless
Housing starts eased to 230,754 units on a seasonally-adjusted annualized rate (SAAR) basis in January according to the Canada Mortgage and Housing Corporation (CMHC), from December’s 238,405-unit reading. January’s reading was driven by a fall in multi-urban starts, while single-detached urban starts increased.
Meanwhile, the six-month average of housing starts in urban areas dipped to 254,133 units in January from 261,352 units in December.