December housing starts down as expected
Jan. 15, 2013, Ottawa ` The seasonally adjusted annual rate of housing starts was 197,976 units in December 2012, according to Canada Mortgage and Housing Corporation (CMHC). This is down slightly from 201,376 units in November 2012.
`As expected, housing starts remained below their recent trend in Canada. The decrease recorded in December was due to a decline in rural starts, while urban starts remained stable. Housing starts were below their trends in all regions except Ontario,` said Mathieu Laberge, deputy chief economist at CMHC.
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