Canadian housing starts dip 0.2% in November; beat estimate

Real estate sings in Toronto
A for sale sign is displayed outside a home in Toronto, Ontario in Toronto, Ontario, Canada December 13, 2021. REUTERS/Carlos Osorio/File Photo

TORONTO, Dec 15 (Reuters) - Canadian housing starts edged lower in November compared with the previous month as a drop in single-detached urban starts offset groundbreaking in multiple unit urban homes, data from the national housing agency showed on Thursday.

The seasonally adjusted annualized rate of housing starts fell to 264,159 units from a revised 264,581 units in October, the Canadian Mortgage and Housing Corporation (CMHC) said. Economists had expected starts to fall to 255,000.

Reporting by Fergal Smith Editing by Raissa Kasolowsky

Our Standards: The Thomson Reuters Trust Principles.

Read Next