off-the-wire

Canadian housing starts largely flat in May from April - CMHC

Kitco Media
By Reuters
Published:
Updated:
Reuters
Canadian housing starts largely flat in May from April - CMHC teaser image

OTTAWA, June 16 (Reuters) - Canadian housing starts were largely flat in May compared with April as a slight rise in groundbreaking in multiple unit urban homes was offset by a marginal drop in starts in single-family detached urban homes, national housing agency data showed on Monday.

The seasonally adjusted annualized rate of housing starts was down 0.2% at 279,510 units from a revised 280,181 units in April, the Canadian Mortgage and Housing Corporation (CMHC) said. Economists had expected starts to fall to 247,500 units last month.

Reporting by Promit Mukherjee, Editing by William Maclean

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